Coinbase BTC premium turns positive for first time in 98 days, hinting at U.S. demand

Coinbase’s Bitcoin premium index turned positive at +0.0032% on Aug. 24 for the first time in 98 days, according to CoinGlass, pointing to signs of recovering BTC buying demand in the U.S. market. The index, which measures the Bitcoin price gap between Coinbase and global exchanges, had posted a negative premium for 97 straight days starting May 19, setting a record for the longest such streak. A sustained negative reading indicates BTC buying demand in the U.S. market is relatively weaker than in global markets. As of Aug. 25, however, the Coinbase BTC premium had slipped back to -0.0141%, returning to negative territory.