Bitcoin's Coinbase premium has recorded its longest streak of positive readings since the cryptocurrency hit a record price of $126,000 in October.
According to data from Coinglass reported by coindesk.com, the index has remained positive for 14 straight days, spanning from April 9 through April 22.
This persistent positive reading indicates relatively stronger buying pressure from U.S.-based investors. The Coinbase premium index serves as a key indicator for crypto analysts monitoring institutional activity in the United States.
U.S. institutional demand
As a Nasdaq-listed exchange, Coinbase serves as a primary gateway for U.S. institutions, including corporate treasuries, hedge funds, and regulated ETFs.
When Bitcoin trades at a premium on Coinbase compared to offshore exchanges like Binance, it suggests aggressive purchasing by U.S. buyers. Historically, such buying patterns have been a defining feature of major bull markets.
Conversely, a negative premium suggests that U.S. demand is lagging behind offshore markets. The outlet reported that the premium was mostly negative from mid-December to late February, a period when Bitcoin fell from roughly $100,000 to nearly $60,000.
The current 14-day positive stretch is particularly notable because it shows sustained demand despite geopolitical volatility and a recent DeFi crisis.
Bitcoin prices have rallied alongside this trend, topping $78,000 on Wednesday and achieving a month-to-date gain of 14%.
On Wednesday morning, Bitcoin traded at $77,541, representing a 2.2% increase over 24 hours. The price movement followed President Trump's decision to extend the Iran ceasefire and a massive $2.54 billion Bitcoin purchase by Strategy.
This acquisition of 34,164 bitcoins is the largest purchase by Strategy in 17 months. The move brings the company's total holdings to 815,061 bitcoins.
