Coinbase bitcoin premium for the first time since 19 May

On 24 August, the Coinglass data indicated that the Coinbase bitcoin premium had re-emerged for the first time since 19 May, reporting a positive signal of 0.005 per cent, ending in the 97-day record-highest negative premium zone, which ended on 23 August. While these positives are currently relatively sporadic, they have shown that the pressure on the corporate side has eased and is undoubtedly helping the market to move forward, and that the next step is to wait for a real return to substantive demand. The largest prior negative premium was recorded for 40 consecutive days from 16 January to 24 February of this year, and for the second, for about 30 consecutive days during last year's 1011 crash. The Coinbase bitcoin premium index is used to measure the price differential between CoinbasePro and Binance. The index continues to be negative, usually meaning that Coinbase offers are relatively low, reflecting weak purchasing or high sales pressure on the United States market, but it is not appropriate to rely on this indicator to directly identify institutional funds as being flowing。