Trump temporarily leads in the election, Bitcoin "Coinbase premium indicator" rises to a two-month high

ChainCatcher news, or due to the Republican candidate Trump, who supports cryptocurrency, temporarily leading in the U.S. election, the key indicator measuring U.S. demand for Bitcoin, the "Coinbase Premium," has once again turned positive. According to data tracked by the analytics firm CryptoQuant, this indicator turned positive during the early Asian session on Wednesday, rising to 0.06, the highest level since September 14.

Analysis points out that when cryptocurrencies trade at a premium on Coinbase, the price increase is more sustainable, reflecting stronger buying pressure from mature traders and U.S. institutions.