The Bitcoin Coinbase Premium Gap, which measures the price difference between Coinbase and Binance, indicates the market dynamics behind the recent bullish price action.
Positive values suggest higher buying pressure on Coinbase, driven by American investors and institutional entities, while negative values indicate a higher buying pressure on Binance.
Sporadic negative spikes in the Premium Gap preceded upward movements in Bitcoin's price, highlighting the influence of buying activity on Binance.
Bitcoin briefly reached a new all-time high above $82,000 before experiencing a minor pullback to $81,900.