Every few hours someone reposts the same breaking news: "Coinbase premium negative 90 days!"
The number is borrowed, late, and short.
Our own series - (CB-BIN)/BIN on locked daily closes, nine years deep - printed red close #100 two days ago. Today the count is 102. The viral "90" is somebody's index running 12 days behind a tape anyone could keep.
Since everyone suddenly cares about premiums, here are all three we run, same ruler, daily locked closes:
- COINBASE: 102 straight red closes, the record of the 9y base - prior best 84 (Sep-2018). Mean depth of the run: -9.1bp. Shallow, persistent, historic.
- KIMCHI (Upbit vs Binance): +0.22% today, p26 of its base. Positive. Asleep.
- BITFINEX: +0.061%, p35. Positive. Asleep.
One venue prints a record discount. The other two shrug. That is not "the market fleeing" - that is a US-hour seller with staying power, visible only if your series is long enough to know what a record looks like.
The count updates daily at 00:00 UTC on our feed. Day 103 prints tomorrow - unless the close flips.
$BTC
The number is borrowed, late, and short.
Our own series - (CB-BIN)/BIN on locked daily closes, nine years deep - printed red close #100 two days ago. Today the count is 102. The viral "90" is somebody's index running 12 days behind a tape anyone could keep.
Since everyone suddenly cares about premiums, here are all three we run, same ruler, daily locked closes:
- COINBASE: 102 straight red closes, the record of the 9y base - prior best 84 (Sep-2018). Mean depth of the run: -9.1bp. Shallow, persistent, historic.
- KIMCHI (Upbit vs Binance): +0.22% today, p26 of its base. Positive. Asleep.
- BITFINEX: +0.061%, p35. Positive. Asleep.
One venue prints a record discount. The other two shrug. That is not "the market fleeing" - that is a US-hour seller with staying power, visible only if your series is long enough to know what a record looks like.
The count updates daily at 00:00 UTC on our feed. Day 103 prints tomorrow - unless the close flips.
$BTC