Coinbase marked the deepest US discount on Bitcoin of the past 90 days on Oct 29. American buyers bid $BTC -0.271% under the price on global exchanges, the 55th straight day below the rest of the world in our records.
That gap ran wider than its seven day average of -0.159%, so the latest day stood out even within an already negative run.
Futures leaned the other way. Quarterly contracts held an annualized premium of +5.36% over spot, meaning traders paid more for Bitcoin exposure at a later date than buyers paid on the spot market.
Since 2017, days in this very low band saw a median -0.1% BTC move over the next 7d (n=666, base +0.5%, 9y of records). History, not a forecast.
That gap ran wider than its seven day average of -0.159%, so the latest day stood out even within an already negative run.
Futures leaned the other way. Quarterly contracts held an annualized premium of +5.36% over spot, meaning traders paid more for Bitcoin exposure at a later date than buyers paid on the spot market.
Since 2017, days in this very low band saw a median -0.1% BTC move over the next 7d (n=666, base +0.5%, 9y of records). History, not a forecast.
