Bitcoin Coinbase Premium Turns Positive for First Time in 40 Days, Signaling US Demand Recovery
JH Kim
Summary
- Bitcoin’s Coinbase premium has turned positive for the first time in 40 days.
- A positive Coinbase premium means Bitcoin is trading at a relatively higher price on Coinbase.
- A CryptoQuant analyst said the shift in the premium signals that Bitcoin buying demand is returning to the US market.
Forecast Trend Report by Period
Bitcoin’s Coinbase premium turned positive for the first time in 40 days, a sign that buying demand from US investors is recovering.
A CryptoQuant analyst wrote 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.
The shift suggests Bitcoin buying demand is returning to the US market, the analyst said.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.