The Bitcoin Coinbase Premium Index has recently hit two-year lows, indicating a potential shift in BTC's price behavior. This index measures the price difference between Bitcoin on Coinbase and Binance, highlighting different buying patterns between American institutions and global investors.
Historically, a high premium signals strong US-based buying, while a negative premium suggests more buying on Binance, potentially impacting BTC's price trends. The index's current negative state mirrors past periods where Bitcoin eventually bottomed out, inviting speculative interest from new buyers.
With BTC's price now recovering, reaching $96,600, it remains uncertain if the current negative premium indicates a solid price bottom or ongoing market fluctuation.
