Bitcoin saw a small but notable technical shift this week as the Coinbase premium returned to positive territory, ending a stretch of negative readings that began with heavy selling on February 6.
According to market data from February 23, 2026, Bitcoin was trading around $66,150 on Binance futures at one point, showing a brief hourly gain of 0.40%. However, other spot indexes painted a different picture: CoinMarketCap listed BTC near $65,070, marking a daily drop of roughly 3%. Such gaps are normal—futures, spot feeds, and aggregate trackers often diverge. What matters here is the direction of the premium, which had been negative for much of February before turning positive.
Why the Premium Matters
Coinbase is widely used by large U.S. buyers, so a positive premium is often interpreted as a sign that domestic spot demand is outweighing offshore selling pressure. However, a move above zero is only an initial signal. The size of the spread, how long it holds, and whether exchange inflows support the move are what can turn a signal into a trend. Small, short-lived flips can result from temporary liquidity differences or quick arbitrage trades, while larger, sustained spreads tend to carry more weight for portfolio managers.
Broader Market Influences
Market observers are also noting wider factors. Rising tensions between the U.S. and Iran, along with discussions about potential tariff adjustments under U.S. President Donald Trump, have recently driven investors toward safer assets. This sentiment has at times pushed BTC below key technical support near $65,000, with some sessions seeing brief dips under $64,000 before minor rebounds during calmer periods. When fear spikes, crypto often feels the impact first.
Derivatives, Volume, and Technical Levels
Futures activity on Binance and other platforms remained active, though volume did not show the kind of surge that typically precedes major breakouts. Daily trading volume was reported near $45.71 billion, while market cap hovered around $1.30 trillion. Metrics like funding rates, open interest, and exchange inflows are being watched closely—each can either reinforce or contradict the message from the Coinbase premium. For instance, rising open interest alongside a growing premium would be more convincing than a standalone spread increase.
A positive Coinbase premium offers a hopeful signal after weeks in negative territory, but it does not guarantee a sustained rally. Investors will be monitoring the size of the spread, whether Coinbase sees significant inflows, and if funding rates and open interest support the move. Traders are likely to wait for clearer signs in the coming sessions before considering the market stabilized.
Frequently Asked Questions
Of course Here is a list of FAQs about the Bullish Signal Coinbase Bitcoin Premium Returns to Positive topic designed for a range of experience levels
Beginner Definition Questions
1 What is the Coinbase Bitcoin Premium
Its the difference in Bitcoins price on Coinbase versus other major global exchanges like Binance When the Coinbase price is higher its a positive premium
2 What does a positive premium actually mean
It suggests that buying demand in the United States where Coinbase is dominant is stronger than in other parts of the world US investors are willing to pay a slightly higher price
3 Why is a return to a positive premium considered a bullish signal
Historically sustained positive premiums have often preceded price rallies It indicates that wellcapitalized institutional or longterm investors in a key market are accumulating Bitcoin which is seen as a vote of confidence
4 Was the premium negative before What did that mean
Yes for months it was often negative or flat A negative premium typically suggested stronger selling pressure or more cautious sentiment among US investors compared to the global market
Intermediate Context Questions
5 Who primarily uses this metric
Its a popular onchain market data indicator used by traders analysts and institutional investors to gauge sentiment shifts between two major investor bases
6 Is this a guaranteed predictor of a price increase
No It is a signal not a guarantee While it has a strong historical correlation with bullish momentum it should be used alongside other indicators like trading volume macroeconomic trends and overall market structure
7 What could have caused this shift back to positive
Possible drivers include increased institutional buying via US spot Bitcoin ETFs positive regulatory developments a broader riskon sentiment in US markets or a decrease in selling pressure from longterm US holders
8 Does this relate to the Bitcoin ETFs
Directly The launch of US spot Bitcoin ETFs made it easier for American institutions and advisors to buy Bitcoin Sustained ETF inflows often create buying pressure on Coinbase which