Data shows the Bitcoin Coinbase Premium Index has recently seen a surge, a sign that buying from US investors may contribute to the recovery.
Bitcoin Coinbase Premium Index (7-Day SMA) Has Been Going Up Recently
According to data shared by Julio Moreno, the Head of Research at CryptoQuant, the Coinbase Premium Index has been sharply trending up recently. The “Coinbase Premium Index” here refers to a metric that keeps track of the percentage difference between the Bitcoin price listed on Coinbase (USD pair) and that listed on Binance (USDT pair).
This metric can help us know which platform’s user base is buying or selling more of the asset. For example, when the index’s value is greater than zero, it means that an extra amount of buying pressure has been present on Coinbase, which has pushed the asset’s price up on the platform (or just a lower amount of selling pressure than on Binance is there on Coinbase).
Coinbase is known to be used more heavily by US-based investors (esp
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