There are some signs that we could have continuation to the upside, as the Coinbase Premium Gap has surged to positive values over the past week. The Coinbase Premium Gap is an indicator that measures the difference between the Bitcoin price on Coinbase (NASDAQ:COIN) and the price on Binance.

This indicator has been negative for several months during the market downtrend, showing that the Bitcoin value on Coinbase has been less than Binance. However, data from Crypto Quant shows that recently the Coinbase Premium Gap has spiked significantly. This could be a sign that U.S. investors are buying Bitcoin more than the rest of the world, as Coinbase is mainly used by U.S. investors.

This could also infer that institutions are becoming more aggressive buyers, as Coinbase has a bigger institutional percentage of users compared to Binance - institutional buy pressure is always a positive sign for bulls.

The fact that this indicator has risen, whilst terrible news is no longer negatively impacting the market, could be a sign that we may see further upside over the coming weeks.