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Coinbase Bitcoin Premium Index Stays Negative for Eight Straight Days

Coinglass data showed Coinbase’s Bitcoin negative premium widened from March 19 as BTC fell from $74,000 to $66,000, indicating the pullback was driven largely by U.S. investors.

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Summary

Coinglass data showed the Coinbase Bitcoin Premium Index remained negative for eight straight days and widened from March 19 as Bitcoin fell from $74,000 to $66,000. The report said the market pullback was led by U.S. investors, reinforcing signals of weak U.S. spot demand and stronger selling pressure on Coinbase relative to other exchanges.

Terms & Concepts
  • Coinbase Bitcoin Premium Index: A market indicator that measures the price difference between Bitcoin on Coinbase and other exchanges, often used to assess U.S. spot demand.
  • Negative premium: A condition where Bitcoin trades at a lower price on Coinbase than on other exchanges, often signaling relatively stronger selling pressure from U.S. participants.