Coinbase Premium Turns Positive: What It Means for Bitcoin's Next Move
Bitcoin has seen its Coinbase Premium turn positive for the first time since May, as BTC attempts to hold above $80,000.
The indicator, which measures the price difference between Bitcoin on Coinbase and Binance, turned positive on Friday, according to CoinGlass data. This shift suggests that buying demand on Coinbase is relatively stronger than on Binance.
This change comes after Bitcoin climbed from roughly $63,000 to above $80,000. Renewed inflows into U.S. spot Bitcoin ETFs have also accompanied the recovery.
A positive Coinbase Premium does not guarantee another Bitcoin rally, but sustained strength in the indicator has historically accompanied periods of stronger market demand. The next major test is around $81,000, where Bitcoin's 50-week simple moving average currently sits.