The Coinbase Premium, which tracks the price difference between Bitcoin on Coinbase and Binance, has turned negative, indicating a divergence in buying activity across different markets.
Bitcoin's price has increased despite the negative Coinbase Premium, suggesting significant buying pressure on Binance from global users.
The shift in buying pressure towards Binance is seen as a positive sign for Bitcoin's price trajectory.
Bitcoin's price spiked above $64,000 but has since decreased slightly to $62,831, down by 0.7% in the past day.