CryptoQuant CEO Ki Young Ju said Bitcoin’s Coinbase Premium Index hit a four-year low, a level last seen in November 2022 after the FTX collapse. He suggested bearish sentiment could turn bullish, but the index alone does not establish that Bitcoin has reached a bottom.
The excerpt reported that Bitcoin had fallen more than 5% to around $77,000 amid concern over a reported $6.3 billion Binance hack. It said Binance had pledged to cover the amount and reserved more than $6.34 billion in company funds, while traders remained cautious until Binance withdrawals opened.
