Bitcoin's Coinbase Premium Reaches Longest Bullish Streak Since October's $126,000 Record High

A key indicator closely watched by crypto experts has been signaling a sustained bullish trend, suggesting that US-based investors, particularly institutions, are actively purchasing Bitcoin. The Coinbase premium index has been positive for 14 days, from April 9 to April 22, according to Coinglass data, representing the longest uninterrupted stretch of positive readings since October. This matters because Coinbase is the primary exchange for US institutions, including corporate treasuries, hedge funds, and regulated investment vehicles like ETFs. When Bitcoin's price trades at a premium on Coinbase compared to Binance, it indicates aggressive buying by US investors, a characteristic of bull runs. Historically, a negative premium has signaled lagging US demand, with offshore markets driving the price. The recent stretch of positive readings is significant, as it shows sustained demand despite geopolitical uncertainty and DeFi crises. As a result, Bitcoin's price has been rising, reaching $78,000 on Wednesday and achieving a 14% gain for the month.