Bitcoin flipped a small but notable technical switch this week as the Coinbase premium moved back above zero, ending a run of negative readings that began after heavy selling on February 6. The market data dated February 23, 2026 showed Bitcoin trading around $66,150 on Binance futures, with an hourly uptick of 0.40%. What matters here is the premium’s direction — it had been negative for much of February and then crossed into positive territory.
Coinbase Bitcoin Premium has flipped positive for the first time since the February 6 bottom. It offers a hopeful signal after weeks below zero, but it doesn’t confirm a sustained rally. Investors will be tracking how large the spread is, whether Coinbase sees significant inflows, and if funding rates and open interest support the move.
Traders are likely to wait through the next sessions for clear signs before considering the market stabilized. Any sustained move would likely require larger spreads, inflows, and supportive funding rates and open interest.
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