Coinbase Bitcoin Premium Turns Positive After Nearly One Month
The Coinbase Bitcoin Premium Index has shifted into positive territory, ending a prolonged period of negative readings. Data from Coinglass confirms that the index turned positive near the end of November, for the first time in almost 30 days.
According to Coinglass data, the Coinbase Bitcoin Premium Index has turned positive after nearly a month in negative territory. A positive reading typically indicates that U.S. investor flows — including ETF demand — are showing stronger buying interest compared to global… pic.twitter.com/kdMxc4oIE0
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The index tracks the price difference between Bitcoin on Coinbase and its average global price. A positive index means Bitcoin is trading higher on Coinbase, which often reflects stronger demand from U.S. investors. During the previous month, the index remained negative, suggesting that global prices were consistently higher than on Coinbase.
Bitcoin’s price movement may also be tied to this change. The chart shows a recovery from lows below $9,000, rising back above the $10,000 level as the index turned positive. This timing could point to renewed interest from U.S.-based buyers using Coinbase.
Stronger US Demand Could Be Linked to ETF Activity
Analysts often associate a positive premium on Coinbase with growing interest from U.S. institutions or retail investors. This includes possible demand from those investing through Bitcoin-related exchange-traded funds (ETFs). When U.S. demand increases, it tends to drive up prices on regulated exchanges like Coinbase.
Coinglass reported that the index was mostly negative throughout November, as Bitcoin prices faced downward pressure. The shift to a positive value occurred just as prices started to rise again, suggesting a potential link to buyer activity in the U.S. market.
“The return to a positive premium could indicate increasing U.S. flows,” according to Coinglass platform data available on November 28. While no ETF provider has released any direct statement, analysts are watching this index as a signal of demand from the U.S. market.