Bitcoin's Coinbase Premium Sees Longest Bullish Run Since October's Record High

A key indicator closely watched by crypto experts to gauge US investor interest in Bitcoin is the Coinbase premium index, which has been flashing a bullish signal for 14 days straight. This sustained signal is the longest since Bitcoin traded at a record high above $126,000 in October. The index has been positive from April 9 to April 22, according to Coinglass data. This matters because Coinbase is the primary exchange for US institutions, and a premium on the platform indicates aggressive buying from US investors, a characteristic of past bull runs. Historically, a negative premium signals lagging US demand. The recent positive stretch is significant, showing sustained demand despite geopolitical and DeFi-related uncertainty. As a result, Bitcoin has been rallying, reaching over $78,000 on Wednesday and achieving a 14% gain for the month.