Bitcoin’s price has skyrocketed recently, exceeding $90,000 after being stuck below $87,000 for two months. This impressive performance, exceeding 13% in just a week, has many wondering if a new bull market is underway.
The Coinbase Premium: A Bullish Signal?
One interesting indicator is the Coinbase Premium Gap. This measures the difference between Bitcoin’s price on Coinbase (US-based) and Binance (global). A positive gap means Bitcoin is more expensive on Coinbase. Why is this important? It suggests that US investors, particularly those using ETFs, are buying Bitcoin aggressively.
A crypto analyst, Maartunn, highlighted this. The Coinbase Premium has been positive for over 11 days straight—a significant period. This prolonged positive gap is historically linked to Bitcoin price increases and accumulation by large investors. It suggests institutional investors are willing to pay a premium for Bitcoin through regulated channels like ETFs.
Bitcoin’s Price Surge: A Quick Look
Bitcoin’s price is currently above $95,000, a level not seen since February. This recent jump reflects a 2% increase in the last 24 hours alone. The overall picture is bullish, but whether this is a sustained trend remains to be seen. The positive Coinbase Premium, however, offers a strong indication that the current upward momentum might continue.
