Coinbase premium has turned negative for the first time in 10 days.

Under the assumption that US markets lead crypto markets, the Coinbase premium serves as an indicator of US investors' enthusiasm for Bitcoin. While price has rebounded, the Coinbase premium shows signs of shifting from positive to negative territory.

If $BTC functions as a leading indicator for NASDAQ, then the Coinbase premium acts as a leading indicator for Bitcoin itself. This shift suggests potentially waning US market participation despite the recent price recovery. #Bitcoin #MarketIndicators