Bitcoin Coinbase Premium Turns Positive After 40 Days, Signaling Recovery in US Demand
Summary
- Bitcoin’s Coinbase premium has turned positive for the first time in 40 days.
- The Coinbase premium is an indicator that tracks the Bitcoin price gap between Coinbase and other major exchanges.
- A CryptoQuant analyst said the latest premium reversal signals renewed buying demand for Bitcoin in the US market.
Forecast Trend Report by Period
Bitcoin’s Coinbase premium has turned positive for the first time in 40 days, signaling a recovery in buying demand from US investors.
A CryptoQuant analyst said on Aug. 27 that Bitcoin’s Coinbase premium recently moved back into positive territory. It was the first positive reading in 40 days.
The Coinbase premium measures the gap in Bitcoin prices between Coinbase and other major exchanges. A positive reading means Bitcoin is trading at a relatively higher price on Coinbase.
CryptoQuant said the shift back into positive territory signals renewed buying demand for Bitcoin in the US market.
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