Key Takeaways
- Bitcoin Coinbase premium turns positive before Trump's inauguration.
- BTC price regains six-figure territory, reaching $102,000.
- $60 million in Bitcoin short liquidations occurred in 24 hours.
Bitcoin is seeing renewed interest from U.S. investors, reflected in a positive turn of the Coinbase Premium Index (CPI).
This key metric, which tracks the price difference between Bitcoin on Coinbase (BTC/USD) and Binance (BTC/USDT), signals increased buying activity in the United States.
According to CryptoQuant analyst Burak Kesmeci:
The CPI signals a market dominated by buyers as Trump prepares to take office.
The shift comes as Bitcoin price action climbs, nearing $102,000 ahead of Wall Street’s Jan. 17 open.
Political transition impact
Rumors of pro-Bitcoin policies from the incoming Trump administration are fueling market optimism.
Speculation about policy announcements on day one has bolstered U.S. investor confidence, as indicated by the CPI’s return to green territory.
Since Bitcoin’s all-time high of $108,000, the premium has mostly remained negative, but recent momentum suggests a change in market sentiment.
Kesmeci observed:
With only a few days left until Trump’s inauguration, U.S. investors are clearly taking a bullish stance.
Market performance
Bitcoin’s resurgence to six-figure territory triggered $60 million in short liquidations over 24 hours, according to CoinGlass.
This comes after a choppy start to the year, with traders eyeing continued momentum in the first quarter, historically a strong period for Bitcoin in post-halving years like 2023.
