Bitcoin was trading at $79,618.56 as the Coinbase Premium indicator turned positive on Friday for the first time since May, according to Coinglass data. The measure compares bitcoin prices on Coinbase with those on Binance and is viewed as a gauge of relative demand on the Nasdaq-listed U.S. exchange. The shift follows bitcoin's rise from roughly $63,000 to above $80,000 and renewed inflows into U.S.-listed spot bitcoin ETFs, many of which use Coinbase as a custodian. The funds, led by BlackRock's IBIT, attracted $3.51 billion, the highest total since October 2025, according to SoSoValue. A sustained Coinbase premium has historically accompanied bitcoin bull runs, but the latest reading will need to persist for the recovery to challenge key resistance. Analysts identify the 50-week simple moving average, currently near $81,000, as the final major barrier before a more decisive bullish signal.