๐ Red flag: Bitcoin trades at a discount on Coinbase ๐บ๐ธ
๐ฆ Even after $BTC TC bounced to $78,000, the Coinbase Premium chart is still deeply negative. Bitcoin on Coinbase was priced about $100 below Binance and OKX ๐ต
๐ THE KEY POINTS
โ The premium has been negative for weeks
โ It hit a low near -210 in late October
โ It has recovered to about -100, but it is still well below zero
โ A negative reading often means weaker US demand or heavier selling in the US
๐งญ WHY IT MATTERS
US markets are a big source of demand for Bitcoin, including funds and institutions. When that demand fades, rallies can struggle to last, which is why traders watch this gauge ๐
โ ๏ธ BUT REMEMBER
The reading can be affected by differences between dollar and stablecoin prices, so one chart does not tell the whole story. Look at several indicators before drawing a conclusion ๐ฌ
๐ Do you think US demand will come back soon? Share below ๐
#Bitcoin #CoinbasePremium #BinanceSquare
๐ฆ Even after $BTC TC bounced to $78,000, the Coinbase Premium chart is still deeply negative. Bitcoin on Coinbase was priced about $100 below Binance and OKX ๐ต
๐ THE KEY POINTS
โ The premium has been negative for weeks
โ It hit a low near -210 in late October
โ It has recovered to about -100, but it is still well below zero
โ A negative reading often means weaker US demand or heavier selling in the US
๐งญ WHY IT MATTERS
US markets are a big source of demand for Bitcoin, including funds and institutions. When that demand fades, rallies can struggle to last, which is why traders watch this gauge ๐
โ ๏ธ BUT REMEMBER
The reading can be affected by differences between dollar and stablecoin prices, so one chart does not tell the whole story. Look at several indicators before drawing a conclusion ๐ฌ
๐ Do you think US demand will come back soon? Share below ๐
#Bitcoin #CoinbasePremium #BinanceSquare
