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Cryptocurrency News Articles
Barometer of American demand for Bitcoin, the Coinbase Premium Index has just turned positive again
Jan 18, 2025 at 04:05 pm
After weeks spent in the red, the Coinbase Premium Index has finally regained its colors. This key indicator compares the price of Bitcoin on Coinbase (BTC/USD pair) to that of Binance (BTC/USDT pair).
The Coinbase Premium Index, a barometer of American demand for Bitcoin, has just turned positive again. This signals a growing interest among US investors.
The trend comes as the price of BTC once again surpasses $100,000, just a few days before Donald Trump’s inauguration.
The return to positive territory of the Coinbase Premium Index: a strong signal for the American market
After several weeks in the red, the Coinbase Premium Index has finally turned positive again. This key indicator compares the price of Bitcoin on Coinbase (BTC/USD pair) to that of Binance (BTC/USDT pair). It directly reflects the appetite of American investors for the first cryptocurrency.
Specifically, a positive premium (like the one recently observed) marks an increased willingness to buy BTC in the United States. This signifies a significant turning point in the market.
According to CryptoQuant, this resurgence coincides with the approach of Trump’s inauguration. This fuels speculation about potential pro-crypto policies.
“The Coinbase Premium Index (CPI) indicates a market dominated by buyers as Trump prepares to take office,” said Burak Kesmeci, an analyst at CryptoQuant.
This return to positive territory had not been observed since January 6, showcasing a real transformation of market sentiment.
A growing American demand boosts Bitcoin
The return of the Coinbase Premium Index to positive territory is accompanied by a significant rebound in the price of Bitcoin.
This phenomenon highlights the predominant role of American investors in the recovery of the digital asset. The liquidations of short positions also show the impact of this sudden enthusiasm. According to CoinGlass, they are estimated at $60 million over 24 hours,
With a Trump administration perceived as potentially favorable to cryptocurrencies, the markets are anticipating a new bullish phase for Bitcoin and altcoins. Rumors even mention pro-crypto announcements as early as the first days of the mandate. This would help solidify demand and further support the Coinbase premium!
The return to positive territory of the Coinbase Premium Index thus constitutes a strong signal of renewed interest among American investors in Bitcoin. It remains to be seen if this trend will continue to support the price of the leading crypto in the coming weeks.
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