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Bitcoin's Coinbase Premium Indicator Shows Overseas BTC Buyers Taking the Lead Ahead of CPI Release

Bitcoin's Coinbase Premium Indicator Shows Overseas BTC Buyers Taking the Lead Ahead of CPI Release
The Coinbase premium indicator for Bitcoin has turned negative for the first time since the crash on February 3rd, according to Coinglass. This suggests that traders on the Nasdaq-listed exchange are being cautious before the release of the U.S. Consumer Price Index (CPI) on Wednesday. Offshore traders have played a role in the price recovery from overnight lows. Historically, bull runs have seen prices trading at a premium on Coinbase, indicating strong U.S. investor activity.

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