New Bitcoin Demand Signal: Coinbase Price Surpasses Binance for the First Time Since May

The fact that Bitcoin is once again trading at a premium on Coinbase compared to Binance suggests that US-based demand may have strengthened.

Following the recent rally, Bitcoin has started trading at a higher price on US-based Coinbase compared to Binance. According to CoinGlass data, the Coinbase premium turned positive on Friday, marking the first positive shift since May.

This indicator tracks how much more expensive Bitcoin is on Coinbase compared to Binance. The widening price gap in favor of Coinbase indicates that buyer interest in the US may be regaining strength relative to global trading. Bitcoin’s rise from approximately $63,000 to over $80,000 also coincided with this shift.

Bitcoin ETF inflows support demand

The shift in the Coinbase premium occurred during a period of increased interest in spot Bitcoin ETFs traded in the US. According to SoSoValue data, a total of $3.51 billion flowed into these products. This figure represents the highest total recorded since October 2025.

While BlackRock’s IBIT fund led the inflows, Coinbase provides custody services for many ETFs. Therefore, a link is drawn between ETF-driven demand and price movement on Coinbase. However, the premium needs to remain persistent to sustain the rally.

At the time of writing, Bitcoin was trading at the $79,668 level. The most important threshold ahead of the price is being monitored as the 50-week moving average, located at approximately $81,000. If Bitcoin breaks this resistance and the Coinbase premium remains positive, further signals could emerge that the rally is strengthening.