US buying pressure surges! Bitcoin "Coinbase Premium Index" remains positive for 14 consecutive days

ORIGINAL美國買盤搶進！比特幣「Coinbase 溢價指數」連續 14 天維持正值

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Is Wall Street hot money returning? The indicator closely watched by veteran crypto players and analysts — the Bitcoin "Coinbase Premium Index" — is now flashing its rarest and most persistent bullish signal in months, suggesting that a new wave of capital frenzy is quietly in place. This indicator is seen as a "weather vane" for US-based capital, particularly whether institutional investors are entering the market. Currently, the index has recorded its longest streak of positive values since Bitcoin hit its all-time high of $126,000 last October. Coinglass data shows that from April 9 to April 22, the Bitcoin "Coinbase Premium Index" remained in positive territory for 14 consecutive days, indicating that despite geopolitical turmoil and the DeFi crisis, buying pressure from US investors remains robust. Why is this indicator so critical? Nasdaq-listed Coinbase has long been the preferred exchange for institutional investors. Whether it is corporate treasury departments, hedge funds, or investment vehicles like ETFs, they all execute large-scale trades here. Therefore, when the price of Bitcoin on Coinbase shows a premium relative to Binance, the world's largest offshore exchange, it signifies stronger buying momentum from US investors. Historically, this type of buying pressure driven by US capital is often a key characteristic of a bull market. Conversely, if a "discount (negative premium)" appears, it implies weak domestic demand in the US, leaving the market to rely on overseas support. Looking back from mid-December last year to the end of February this year, the "Coinbase Premium Index" was in a depressed state of negative values for the vast majority of the time; the market trend at that time accurately reflected the lack of buying interest, as Bitcoin plummeted from the $100,000 mark to the edge of $60,000. In other words, this 14-day streak of positive values is particularly indicative. Because during this period, the market was experiencing noise from geopolitical turmoil and the DeFi crisis, yet market demand remained stable. Driven by strong buying momentum, Bitcoin's recent sharp rebound is entirely expected. Earlier today, Bitcoin broke through the $78,000 mark, bringing its cumulative gain for the month to 14%. All signs indicate that the conviction of institutional investors has not wavered, and the bull forces have regrouped.

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