Bitcoin’s recent price action may be showing its first signs of relief as a closely watched indicator tied to US demand has just changed direction. The Coinbase Premium Gap has moved back into positive territory following nearly 10 weeks of persistent negative readings, a stretch that coincided with Bitcoin’s decline from around $95,000 to below $65,000 in February. Coinbase Premium Turns Positive The Coinbase Premium Gap, which measures the price difference between Bitcoin on Coinbase, the primary exchange for US-based institutional and retail investors, and its price on offshore platforms such as Binance, stayed in negative territory for the entirety of Bitcoin’s correction from $95,000 to the mid-$60,000 range. Related Reading: Bitcoin Climbs Back To $73,000 As Short Squeeze Wipes Out $246M In Futures Bets Whenever the Coinbase Premium Gap is negative, it usually means that traders in the United States are selling Bitcoin at a faster pace than buyers are stepping in