Bitcoin has started 2026 on a high note, yet underlying metrics suggest the cryptocurrency is not out of the woods just yet. The Coinbase Bitcoin Premium Index, which tracks the price disparity between Coinbase and other major global exchanges, remains in negative territory despite the recent price surge.
The crypto market has seen a wave of buying pressure since the turn of the year. Bitcoin’s value has climbed by more than 6%, while Ethereum saw gains approaching 7%. This capital inflow is largely attributed to heightened geopolitical tensions and growing anticipation of a potential bull run.
During today’s session, Bitcoin reached the $93,000 mark. This rally has effectively turned the $95,000 resistance level into the next major target for bulls.
The Coinbase Premium Warning
Despite the positive price action, the negative trend in the Coinbase Bitcoin Premium Index remains a point of concern. Currently standing at -0.196%, the index shows that while selling pressure is gradually fading compared to recent lows, U.S. demand has yet to turn fully positive.
Market analysts suggest that Bitcoin is essentially walking a tightrope. For the rally to solidify into a stable trend, a more aggressive buying stance from U.S. institutional and retail investors is required to flip the premium back into positive territory.
Technical Strength vs. Skepticism
Bitcoin’s move above the $90,000 threshold has successfully reignited market interest. From a technical standpoint, the Relative Strength Index (RSI) sits at 58.72, indicating that the asset still has significant breathing room before becoming overbought.
However, the recent momentum has not swayed seasoned critics. Veteran investor Peter Schiff dismissed the price increase as inconsequential, once again advising market participants to favor precious metals over digital assets.
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