Oct 23 marked the 49th straight day in our records that $BTC traded cheaper on Coinbase than on global venues. The gap, called the Coinbase premium, closed at -0.137%, so US buyers paid less for Bitcoin than traders elsewhere.
That day's discount ran deeper than its seven day average of -0.122%.
On the futures side, quarterly contracts were priced above spot at a rate equal to +5.38% a year. Buyers of those contracts paid extra over the spot price to hold Bitcoin exposure that settles later.
Since 2017, days in this very low band saw a median +0.0% BTC move over the next 7d (n=664, base +0.5%, 9y of records). History, not a forecast.
That day's discount ran deeper than its seven day average of -0.122%.
On the futures side, quarterly contracts were priced above spot at a rate equal to +5.38% a year. Buyers of those contracts paid extra over the spot price to hold Bitcoin exposure that settles later.
Since 2017, days in this very low band saw a median +0.0% BTC move over the next 7d (n=664, base +0.5%, 9y of records). History, not a forecast.