Coinbase (COIN) IPO is Sending Bitcoin to New Highs

Bitcoin (BTCUSD) comprises more than ½ of the cryptocurrency market at large, so it’s unsurprising that the fanfare surrounding today’s Coinbase (COIN) IPO sent the price of Bitcoin to a new ATH… The recent surge in price also bears out in the underlying data. Bitcoin Purchase Intent Mentions have continuously powered to new highs in 2021, currently sitting at a +300% YoY gain (30-day moving average).

The relentless uptrend in Demand from investors matches the bullish price action of the underlying asset, and retail investor confidence is growing too. Bitcoin sentiment mentions were 76% positive over the past month, a +8% improvement from the prior year.