BroadChain has learned that as of 15:16 on April 22, the Coinbase Premium Index has remained positive for 14 consecutive trading days. This marks the longest period the index has stayed positive since Bitcoin hit its all-time high of $126,000 in October last year. Coinbase is a primary trading platform for U.S. institutional investors. Its sustained premium relative to Binance is generally seen as a signal of strong buying pressure from the United States.
Historical data shows that active buying by U.S. investors has often been one of the characteristics of the market entering a bull phase. In contrast, from mid-December last year to the end of February this year, the premium index was mostly negative. During the same period, the price of Bitcoin retreated from around $100,000 to a low near $60,000.
Currently, the price of Bitcoin has broken through $78,000, with a cumulative increase of 14% this month. The sustained premium phenomenon coincides with the price recovery, reflecting positive changes in market sentiment and capital flows.