Coinbase Premium Shifts to Positive Amid Growing Institutional Demand

CryptoQuant's founder and CEO Ki Young Ju notes that Coinbase premium has turned positive. This indicates a shift in sentiment among U.S. institutional investors regarding Bitcoin (BTC).

The positive premium suggests an increase in institutional demand for BTC relative to other markets. Earlier this year, Ki Young Ju observed that the rally was driven by futures activity and spot demand remained negative.

However, he later noted a change in sentiment, with both spot and perpetual futures market demand turning positive for the first time since Bitcoin's October 2025 all-time high.