$BTC is rising again, but one detail caught my attention: the Coinbase Bitcoin Premium Index is still negative at 0.10%.
This index reflects the BTC price difference between Coinbase and Binance, and is often monitored as an indicator of relative buying and selling pressure from the U.S. market. On the chart, the premium has mostly remained below zero recently, even as BTC rebounded to around $80,000.
In my view, this is worth watching because a rising price doesn’t necessarily mean buying pressure is evenly spread across all markets. However, a negative premium alone isn’t enough to conclude that U.S. investors are dumping their holdings or that BTC is about to reverse.
If the price keeps climbing while the premium stays negative, do you think this rally is sustainable, or do we need further confirmation from spot market flows?
This index reflects the BTC price difference between Coinbase and Binance, and is often monitored as an indicator of relative buying and selling pressure from the U.S. market. On the chart, the premium has mostly remained below zero recently, even as BTC rebounded to around $80,000.
In my view, this is worth watching because a rising price doesn’t necessarily mean buying pressure is evenly spread across all markets. However, a negative premium alone isn’t enough to conclude that U.S. investors are dumping their holdings or that BTC is about to reverse.
If the price keeps climbing while the premium stays negative, do you think this rally is sustainable, or do we need further confirmation from spot market flows?