Adding to the unease is the suddenness of this substantial correction. Just when Bitcoin seemed to have found solid footing above the $70,000 threshold, the market spiraled downwards, struggling to maintain the $63,000 mark. From the graph, it’s apparent that the Bitcoin Coinbase Premium Gap had turned positive in the last few days of February and remained so in the starting days of this month. Positive values suggest that the BTC price listed on Coinbase has been higher than that on Binance. The surge in Bitcoin prices highlights the cryptocurrency’s sensitivity to macroeconomic factors, particularly monetary policy decisions by central banks. Powell’s remarks regarding interest rates catalyzed the current price shift, demonstrating the interdependence of digital assets and traditional financial markets.