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.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
As Bitcoin (BTC) experienced significant volatility throughout the year, reaching new all-time highs (ATHs) before…
Bitcoin’s on-chain activity has shown a sharp slowdown since spot Bitcoin exchange-traded funds (ETFs) launched.…
The broader market held its recent rebound, though liquidity remained thin ahead of Wednesday’s Federal…
These flows represent a bullish bet on volatility rather than a downside hedge or outright…
Based on reports, France’s second-largest banking group has started letting customers trade crypto in its…
QCP notes participation has collapsed while Polymarket sees a shallow easing path, putting the focus…