Feb 7, 2026
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BULLISH 📈 : Coinbase Premium turns positive as Bitcoin rebounds to $70,000
- Bitcoin experienced a recent price rebound but had a volatile trading week, dropping 30% to around $60,000.
- The decline is attributed to collapsing leverages, high ETF outflows, metals market volatility, and investor expectations of boom-bust cycles.
Coinbase Premium Turns Positive
- Coinbase Premium indicates the price difference between Bitcoin on Coinbase and other major exchanges, reflecting US investor sentiment.
- Since mid-January, the premium was negative, showing lower US valuation compared to international traders.
- After Bitcoin's price bounced from $60,000, the premium turned positive, indicating renewed US interest.
- Bitcoin rose over 16%, currently trading around $70,000, though a positive premium alone doesn't ensure full recovery.
- Considerations include Federal Reserve policies, global sentiment, and geopolitical factors.
Bitcoin Market Overview
- Current Bitcoin price: $68,892, with a daily gain of 6.44%.
- Weekly and monthly losses are 17.34% and 23.38%, respectively, highlighting ongoing bearish trends.
- Bitcoin is about 50% away from its all-time high, with past bear markets showing drops of up to 80%.
- Concerns focus on the duration of the current market downturn rather than the depth of price falls.
- Bitcoin holds a market cap of $1.4 trillion, dominating over 55% of the total crypto market.