Coinbase Bitcoin Premium Index turned positive on November 30, after 29 consecutive days of negative readings, landing at 0.0255% according to Coinglass data. The shift marks a material change in Bitcoin price dynamics on Coinbase relative to the global benchmark, signaling renewed U.S. market engagement and potential inflows into the largest crypto exchange.
At its core, the Coinbase Bitcoin Premium Index tracks the gap between Coinbase’s Bitcoin price and the worldwide average. A positive reading typically reflects strong U.S. buying pressure, escalating institutional participation, and ample USD liquidity, while a negative reading suggests risk-off sentiment and capital pullbacks.
As a gauge for traders, the recent uptick should be interpreted as a signal within a broader liquidity and sentiment framework. While not prescriptive, the positive premium reinforces the link between U.S. market activity and global price discovery, and it warrants close monitoring of exchange flow, funding conditions, and macro catalysts.