Axel Adler, an analyst at the cryptocurrency analysis platform CryptoQuant, stated that although there are signs of recovery in the Coinbase Premium Index, a key indicator of investor demand in the US, a strong bullish momentum in the market has not yet been confirmed.
According to Adler’s analysis shared on the X platform, the Coinbase Premium Index recovered from its previous negative territory to neutral-weak levels during February-March 2026. This negative territory previously indicated a significant weakening in US investor demand. However, the index has not yet permanently moved into positive territory. Currently at -0.0195%, the indicator has remained negative for three consecutive days. This suggests that widespread buying appetite originating from the US has not yet materialized, and market sentiment remains cautious.
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On the other hand, Adler also pointed to a notable development in the stablecoin market. He stated that the total market capitalization of USDT and USDC had rebounded from -$8.1 billion to +$4.5 billion, signaling renewed growth and indicating that liquidity was beginning to return to the market. However, he added that inflows to exchanges were still below normal levels, approximately 0.68 times.
*This is not investment advice.
Continue Reading: Activity on the Coinbase Premium Index: What Does It Mean for Bitcoin?
