Coinbase Premium Gap Falls to -$57 Amid Heavy US Bitcoin Selling
Coinglass reports Coinbase’s Bitcoin Premium Index briefly turned positive for the first time in over three weeks before returning to negative territory, indicating persistent U.S. selling pressure.
BTC
Summary
Coinglass data shows that Coinbase’s Bitcoin Premium Index became positive for the first time in 22 days before falling back to -0.0277%, suggesting continued U.S. market selling pressure and heightened risk aversion. The index tracks the price gap between Bitcoin on Coinbase and the global average, with negative readings generally reflecting reduced U.S. demand and increased selling compared to international markets.
Terms & Concepts
- Coinbase Premium Index: A metric comparing Bitcoin’s price on Coinbase to the global average; negative values suggest weaker U.S. buying and potential risk aversion.