The Coinbase premium gap has turned negative, suggesting weaker U.S. demand for Bitcoin compared to global markets, according to Coinomedia. This pattern was last observed before a significant 60% Bitcoin rally in March-April 2024. Analysts believe this could indicate a similar bullish setup, as U.S. institutions might be temporarily sidelined while overseas demand increases. Traders are closely watching this gap, along with stablecoin supply and ETF inflows, for signs of a potential breakout.