As Ethereum trades below $2000 and in a tight range, institutional investors in the USA look towards other altcoins.
The CPI is a metric that measures the difference between the price of an asset on Coinbase and its price on Binance. When an asset’s CPI value is positive, it indicates strong buying pressure among institutional investors on Coinbase. Conversely, when the CPI metric returns a negative value, less accumulation activity takes place on Coinbase.
At the time of writing, ETH’s CPI was negative for the first time over the past month with a reading of -0.0027.According to the analyst, this shift in sentiment is noteworthy because “numerous U.S. investors are wealthy individuals or institutional entities” and are, therefore, capable of influencing the asset’s price movements.“This behavior might cast a pessimistic light on ETH’s prospects.
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