Coinbase’s Bitcoin premium index has been negative since early May.
The index looks at the willingness of US institutions to buy Bitcoin on Coinbase; negative values mean selling pressure is in control.
According to CoinGlass data, starting August 22, this index occasionally turns positive.
Early on the 22nd at 6:00 AM and 11:00 AM, and again at 3:00 AM on the 23rd, it briefly reported positive numbers.
At 8:00 AM on the 24th it was still positive, but the latest reading has returned to negative territory.
The amount by which it turns positive is not large—selling pressure on the institutional side isn’t as fierce as before.
The index looks at the willingness of US institutions to buy Bitcoin on Coinbase; negative values mean selling pressure is in control.
According to CoinGlass data, starting August 22, this index occasionally turns positive.
Early on the 22nd at 6:00 AM and 11:00 AM, and again at 3:00 AM on the 23rd, it briefly reported positive numbers.
At 8:00 AM on the 24th it was still positive, but the latest reading has returned to negative territory.
The amount by which it turns positive is not large—selling pressure on the institutional side isn’t as fierce as before.