Coinbase premium hits seven-month peak as Bitcoin sees renewed US demand 
Bitcoin’s “Coinbase Premium,” a key indicator of demand for the leading digital asset in the US, surged to its highest level in seven months following Donald Trump’s recent election victory.
On Nov. 6, data chain analytics firm CryptoQuant shows that the premium turned positive and reached 0.09, the highest level since April 14.
The Coinbase Premium Index tracks the price difference between Bitcoin on Coinbase—the largest US-based crypto exchange—and Binance, the global leader in trading volume. A rising premium typically signals increasing demand and buying pressure from US institutional investors and traders.
Market analysts have suggested that the recent increase in the Coinbase Premium reflects a renewed interest in Bitcoin following Trump’s victory.
According to CryptoSlate’s data, Bitcoin reached a new all-time high of over $76,000 in the past 24 hours before slightly retracting to $74,950 as of press time.
Analyst 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
Latest Insights
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Donald John Trump was born on June 14, 1946, in Queens, New York City.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
