Analysis: Bitcoin on Coinbase has seen a negative premium for the 5th time since May last year, suggesting a potential buy signal

ChainCatcher message, according to CryptoQuant analyst @MAC_D46035, there is currently a -0.221% negative premium for Bitcoin on Coinbase, marking the fifth time this level has been reached since May of last year. This decline compared to Binance investors indicates a reduction in buying demand from U.S. investors.

The analyst pointed out that historically, this phenomenon is temporary during bull markets and usually attracts new buyers who see it as an opportunity. While it is uncertain whether the price after this significant drop represents a bottom, if the bull market continues, a bottom may form soon, potentially leading to a rebound.