Bitcoin cost less in lira than in dollars on Oct 29. The Turkey Premium Index came to -0.20% (-20.0 bps), a score of 42 / 100 in the neutral regime.
The gap has two near equal parts. The dollar leg, USDT/TRY against the official USD/TRY rate, was -10.3 bps, meaning Tether traded cheaper in lira than the official dollar. The crypto leg, Bitcoin priced in Tether on Turkish books against the global price, added -9.6 bps.
OKX TR was the dearest venue at -7.6 bps and BtcTurk the cheapest at -27.1 bps. The 24 hour average was -21.3 bps and the 7 day average -18.0 bps. This is a price gap, not a trade anyone can execute at these figures.
The gap has two near equal parts. The dollar leg, USDT/TRY against the official USD/TRY rate, was -10.3 bps, meaning Tether traded cheaper in lira than the official dollar. The crypto leg, Bitcoin priced in Tether on Turkish books against the global price, added -9.6 bps.
OKX TR was the dearest venue at -7.6 bps and BtcTurk the cheapest at -27.1 bps. The 24 hour average was -21.3 bps and the 7 day average -18.0 bps. This is a price gap, not a trade anyone can execute at these figures.
