Bitcoin’s Coinbase Premium Gap has turned positive at +25.4-its first sustained positive reading in 10 weeks. The metric, which tracks the price difference between Coinbase and offshore exchanges like Binance, had been deeply negative since January 1, hitting a low of -175 on February 2 during Bitcoin’s drop from $95,000 to below $65,000.
A negative gap historically reflects net US selling pressure. Its reversal suggests growing spot demand from American institutional and retail investors.
However, broader technical structure remains fragile. Bitcoin’s 300-week exponential moving average sits at $57,100. Past bear-market bottoms occurred roughly 15% below that level-implying potential downside toward $50,000 before a confirmed bottom forms.
