Coinbase Premium turns positive, signaling renewed US buying pressure

The Coinbase Premium has turned positive, a sign that U.S. investors are resuming BTC purchases, CryptoPotato reported, citing an analysis from XWIN Research Japan. According to XWIN, the premium had been in a continuous decline throughout November. During that period, Bitcoin remained below $90,000 in a sustained bearish trend. XWIN attributed this to weakened spot buying from U.S. investors, even as demand from overseas was maintained. The research firm also explained that historically, a negative turn in the Coinbase Premium has coincided with risk-off sentiment among U.S. investors. Additionally, XWIN noted that the Japanese government is preparing to approve investments in spot Bitcoin ETFs. The firm projected that the launch of such ETFs in the Japanese market could bring between $3 billion and $10 billion in new capital into the market in the short term.