Bitcoin Coinbase Premium Turns Positive After 40 Days, Signaling Rebound in US Demand
JH Kim
Summary
- Bitcoin's Coinbase premium has turned positive for the first time in 40 days.
- A positive premium means Bitcoin is trading at a relatively higher price on Coinbase.
- A CryptoQuant analyst said the shift in the premium signals a return of Bitcoin buying demand 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 the Bitcoin Coinbase premium recently moved back into positive territory. It was the first positive reading in 40 days.
The Coinbase premium measures the price gap for Bitcoin between Coinbase and other major exchanges. A positive reading means Bitcoin is trading at a relatively higher price on Coinbase.
The analyst said the shift indicates Bitcoin buying demand is flowing back into the US market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.