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>>Coinbase’s Bitcoin premium goes positive after ten weeks, suggesting U.S. demand may be rebounding.

Coinbase’s Bitcoin premium goes positive after ten weeks, suggesting U.S. demand may be rebounding.

crypthub

1 day ago

Coinbase Premium Turns Positive

The Coinbase Premium Gap has moved into positive territory after almost ten weeks of negative readings. The gap stayed negative throughout Bitcoin’s slide from about $95,000 to below $65,000. Its reversal now signals the first hint of relief in recent price action.

What the Gap Reveals

A negative premium means US traders are selling faster than buying, while a positive premium shows stronger domestic demand. The metric hit a low of –175 on February 2 and is now around +25.4, according to CryptoQuant data. This modest rise suggests US spot investors may be gradually re‑accumulating Bitcoin.

Potential for Further Downside

Analysts caution that the broader market structure still permits a fall before a solid bottom forms. Bitcoin’s 300‑week exponential moving average sits near $57,100, and past bear‑market lows fell more than 15 % below this level. Applying the same pattern points to a possible dip toward $50,000.

Long‑Term Technical Outlook

While some on‑chain indicators are turning constructive, they are not yet enough to declare the correction over. Monitoring the 300‑week EMA and the Coinbase Premium will be key to gauging demand and price direction. A definitive bottom remains uncertain.