Data shows the Bitcoin Coinbase Premium Index has declined towards neutral values recently, implying buying pressure may be running out.
Bitcoin Coinbase Premium Index Has Gone Down Recently
An analyst in a CryptoQuant Quicktake post explained that the Coinbase Premium Index has been decreasing recently. The “Coinbase Premium Index” here refers to the percentage difference between the Bitcoin prices listed on the cryptocurrency exchanges Coinbase (USD pair) and Binance (USDT pair).
The former exchange is used more by US-based investors (especially large institutional holders), while the latter has global traffic. As such, the Coinbase Premium Index can reveal the difference in the behaviors of the two demographics.
When the value of this metric is positive, it means that the cryptocurrency’s price is higher on Coinbase than on Binance. Such a trend could suggest that the buying pressure is greater on the former platform or the selling pressure is lower.
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We współpracy z: https://bitcoinist.com/bitcoin-coinbase-premium-neutral-buying-exhausted/
