Analyst: Coinbase premium turns positive, indicating rising demand for BTC among American investors

ChainCatcher news, according to The Block, CryptoQuant's research director Julio Moreno stated: "Trump's victory has rekindled American investors' demand for Bitcoin, and the Coinbase premium has turned positive for the first time since October 18." Coinbase is a favored platform among American investors, and its premium indicates increased buying interest, especially from institutional investors making large trades using Coinbase.

As a signal of increasing demand from institutional investors, the daily trading volume of Bitcoin futures on the Chicago Mercantile Exchange (CME) reached a historic high of $13.15 billion yesterday. According to K33 research director Vetle Lunde, the average daily trading volume for CME Bitcoin futures in 2024 is currently $4.56 billion—higher even than the surge in trading volume during the FTX collapse in early November 2022. This milestone indicates a shift in Bitcoin trading activity, with an increasingly significant role played by institutional investors.

Additionally, data shows that in just one week of November, the average monthly open interest for CME Bitcoin futures has already reached a historic high of $11.73 billion.