The return of the Coinbase premium highlights spot demand from various investor cohorts and strengthens traders’ calls for a Bitcoin rally to $90,000.
The Bitcoin (BTC) Coinbase premium index reached its highest level since Feb. 20 after BTC prices rallied 5% on March 19.
Bitcoin’s Coinbase premium index. Source: CryptoQuant
The Coinbase premium index measures the price difference between Coinbase and Binance prices for BTC pairs, where a higher value signals US investors dictating stronger buying pressure. The index gauges US retail interest, but Woonminkyu, a verified analyst on CryptoQuant, said that it may also signal strong accumulation from US institutions and whales.
