On-chain data shows the Bitcoin coinbase premium gap has improved recently and is now approaching a neutral value, suggesting the selling pressure may be drying up.
Bitcoin Coinbase Premium Gap Close To Zero, But Still Negative
As pointed out by an analyst in a CryptoQuant post, the selling pressure from US investors seems to have reduced in recent days.
The “Coinbase Premium Gap” is an indicator that measures the difference in the Bitcoin prices listed on crypto exchanges Coinbase (USD pair) and Binance (USDT pair).
The quant notes that US investors are known to use the Coinbase platform, especially high-net entities and institutions.
When the value of this metric is positive, it means the price on Coinbase is higher at the moment. Such a trend suggests there has been buying from US investors recently.
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On the other hand, a negative premium gap implies there has been some selling on the crypt ..
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