After a historic 60-day run, Bitcoin (BTC) Premium has dissipated Coinbase premium, a key indicator of robust investor demand in the US, indicating a noticeable change in market dynamics.
According to data source TradingView, BTC’s Coinbase Premium marked the first such instance since late May, making the difference in the ratio between Coinbase’s BTC/USD pair and BTC/USDT pair on Binance negative.
The negative flip shows a new, relative weakening of demand from US investors, supporting an extended pullback case for BTC prices.
The Coinbase Bitcoin Premium Index is a measure of the difference between the Bitcoin price in Coinbase Pro (USD pair) and the Price in Binance (USDT trading pair).
Positive value is widely seen as an indicator of robust demand from US investors, particularly institutions. Cryptocurrency exchanges registered with NASDAQ are popular among US investors, especially among larger institutions, but Binance has a larger user base all over the world.
The recent Bull Run has been marked by Bitcoin trading at Coinbase Premium, reflecting stronger buying pressures from sophisticated US traders and institutions.
