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Bitcoin rebounds toward $64,000 as Coinbase Premium turns a corner

CryptoQuant said US whale activity lifted the Coinbase Premium Index, which sat at -0.08 and would need to break above zero for a sustained regime change.

Reported · Written up by our desk · Market Structure

Bitcoin rebounded to around $64,000 as onchain analytics pointed to shifting demand signals tied to activity from US whales, according to analysis cited by Cointelegraph.

CryptoQuant said the Coinbase Premium Index for both BTC and ETH remained in negative territory but had bounced off local lows. The firm referenced the Index’s 14-day simple moving average and noted it last flipped positive on daily time frames more than two months ago, with the Index currently at -0.08.

Cointelegraph also highlighted CryptoQuant’s view that US whale activity has been a leading indicator for trend direction, and that the current setup could support a short-term bounce. CryptoQuant added that a longer-term regime change would likely require the metric to rise above zero.

Cointelegraph further pointed to US spot Bitcoin ETF flows, noting the funds saw their first net inflows after a record-breaking $2.7 billion losing streak, even as overall investor sentiment remained sensitive to price moves. Bitcoin Suisse also cited a “bottom signal” framework amid eight weeks of ETF outflows and BTC near a 21-month low.

Latest closeBitcoin $64,019.05 ▲1.3%|Ethereum $1,794.57 ▲2.9%

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