Coinbase Premium Flips Green: U.S. Buyers Return as Bitcoin Eyes $70K Breakout

On February 25, 2026 (UTC+8), the Coinbase Bitcoin Premium Index turned positive at 0.0159%. This ends about 40 days of negative values that started in early January. This change suggests that U.S. investors are buying Bitcoin again, after a long period of institutional selling, large ETF outflows (about 56K BTC during the negative period), and general risk aversion that lowered the index to levels like -167.8 basis points.

Bitcoin is trying to recover and is trading between $64,000 and $65,000, after falling to nearly $62,800 following a selloff on February 6. The premium flip shows that selling may be slowing down and that U.S. buyers (often through spot ETFs and Coinbase retail/institutional channels) are starting to buy again.

The Coinbase Premium Index measures the price difference between Bitcoin on Coinbase (in USD) and global exchanges like Binance (in USDT). A positive number means Bitcoin is trading at a slightly higher price on the U.S. platform, which means there is more buying interest in the U.S. compared to global activity. This is often because of institutions, retail investors, or ETF-related flows. The long negative streak showed continued weakness and outflows in the U.S., but this reversal indicates improved sentiment and possible accumulation as prices stabilize after the correction.

Looking forward, analysts are watching $65,000 as a key resistance level. If Bitcoin can break above this level and the premium index remains positive, it could move toward $70,000 in the short term, especially if macro conditions are also supportive. Past patterns show that confirmed premium flips (lasting several days) have often come before 10-20% gains. However, there are still risks, including renewed ETF outflows, broader market risk-off events (like policy changes such as tariffs), or a quick return to negative territory, which could cause a pullback toward the $60,000 support level. Confirmation over several sessions will be important to confirm bullish momentum.