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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