Bitcoin’s Coinbase Premium Signal Indicates Foreign Investors Are Dominating Before CPI Data Comes Out.

The Coinbase premium indicator for Bitcoin (BTC), which compares the price of BTC in dollars on Coinbase to its price in Tether on Binance, has turned negative for the first time since the crash on February 3, according to Coinglass data.

This shift suggests that U.S. investors on Coinbase are becoming more cautious ahead of the release of the U.S. Consumer Price Index (CPI) on Wednesday. Meanwhile, international traders appear to be leading the charge in the price recovery, pushing Bitcoin from recent lows near $94,900 to around $96,000.

Historically, periods of bullish momentum have been marked by a premium on Coinbase, reflecting stronger buying activity from U.S. investors. For example, during early November, the premium surged to a two-month high as Bitcoin broke above $70,000.

  • Related Posts

    Filecoin pares early gains, holding just above flat.

    Filecoin Loses Early Momentum, Consolidates Below Resistance Filecoin’s native token FIL$1.6314edged up 0.4% in the past 24 hours, lagging behind broader crypto markets, according to CoinDesk Research’s technical analysis model.…

    Continue reading
    BNB Surges 3% Following $1.69B Token Burn, Flips XRP in Market Cap Rankings

    BNB Reclaims Lead Over XRP After $1.69B Token Burn Lifts Price 3% BNB has regained its edge over XRP in market capitalization following its largest-ever quarterly token burn, which helped…

    Continue reading
    You have not selected any currencies to display