After a historic 60-day race, Bitcoin’s (BTC) prize disappears at Coinbase, a key indicator of robust US investor needs, which indicates a remarkable shift in market dynamics.
BTC’s Coinbase Premium, which represents the percentage difference between BTC/USD paret on Coinbase and BTC/USDT pair of Binance, became negative early Tuesday and marked the first such case since the end of May, according to Data Source TradingView.
The negative flip indicates a renewed, relative weakening of the demand of US investors who support the case for an extended withdrawal at BTC’s price.
Coinbase Bitcoin Premium Index is a measure of the percentage difference between the price of Bitcoin on Coinbase Pro (USD pair) and the price of Binance (USDT -trading pair).
A positive value is largely seen as an indicator of robust demand from US investors, especially institutions. The NASDAQ-listed cryptocurrency exchange is popular with US investors, especially large institutions, while Binance has a larger user base worldwide.
The latest Turhowers have been marked by Bitcoin trade with a prize on Coinbase, reflecting a stronger purchase pressure from sophisticated US dealers and institutions.
