CoinDesk Analysis Team
CoinDesk
-
BTC's Coinbase premium indicator tracked by Coinglass has flipped negative for the first time since the Aug. 3 price crash.
-
It's a sign that traders over the Nasdaq-listed exchange have turned cautious ahead fo the CPI release.
Bitcoin's (BTC) Coinbase premium indicator, which measures the spread between BTC's dollar-denominated price on the Coinbase exchange and tether-denominated price on Binance, has flipped negative for the first time since the Feb. 3 crash, according to data source Coinglass.
It's a sign that traders over the Nasdaq-listed exchange have turned cautious ahead of Wednesday's U.S. CPI release, and their offshore counterparts have led the price recovery from overnight lows near $94,900 to $96,000.
Historically, bull runs have been marked by prices trading at a premium on Coinbase, indicating strong leadership from U.S. investors. The premium soared to two-month highs in early November as BTC rose into its the-then uncharted territory above $70,000.
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Recommended Content
Editors’ Picks
Cronos rallies 17% ahead of its zkEVM v26 Mainnet upgrade
Cronos (CRO), the token for the Crypto.com platform, extends its gain by 17% and trades around $0.11 on Monday after surging nearly 18% the previous day.
DYDX announces its first-ever buyback program; 25% of net protocol fees will be allocated to monthly buybacks
The dYdX (DYDX) price hovers around $0.72 on Tuesday after gaining nearly 8% the previous day. The recent announcement of its first-ever buyback program, where 25% of net protocol fees will be allocated to monthly buybacks, supported this rally.
Trump Media partners with Crypto.com to begin launching ETFs
Trump Media and Technology Group (TMTG) announced on Monday that its fintech arm, Truth.Fi has signed a non-binding agreement with Crypto.com to launch several exchange-traded funds (ETFs).
Trump's WLFI tests USD1 stablecoin on BNB Chain: Will Binance Coin finally hit $700?
Binance Coin (BNB) saw a 3% price increase on Monday, crossing the $635 mark as rising trading volumes signaled heightened market interest.
Bitcoin: BTC stabilizes around $84,000 despite US SEC regularity clarity and Fed rate stability
Bitcoin price stabilizes around $84,000 at the time of writing on Friday after recovering nearly 2% so far this week. The recent announcement by the US SEC that Proof-of-Work mining rewards are not securities could boost BTC investors' confidence.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.