CryptoQuant: Coinbase premium rebound is now a key indicator

According to on-chain data platform CryptoQuant, the key issue now is not just price direction but whether the Coinbase premium can recover and sustain an upward trend. In a post on its official X account, the firm noted that a sustained rise would signal a revival of confidence among institutional investors. As of Feb. 20, the Coinbase Bitcoin Premium Index has been negative for 36 consecutive days, standing at -0.0467%. This streak surpasses the roughly 30-day negative spell seen during the market downturn on Oct. 11 of last year and is the longest such period since May 2023.