Data shows the Bitcoin Coinbase Premium Index has remained negative during the rally to $68,000. Here’s what this could mean for the asset. Bitcoin Coinbase Premium Index Is Currently Showing Red Values As explained by an analyst in a CryptoQuant Quicktake post, the BTC Coinbase Premium Index is inside the negative zone right now. The “Coinbase Premium Index” is an indicator that measures the difference between the Bitcoin prices listed on the cryptocurrency exchanges Coinbase (USD pair) and Binance (USDT pair). When the value of this metric is positive, it means the BTC price listed on Coinbase is currently higher than that on Binance. Such a trend suggests the former is observing a higher buying pressure (or a lower selling pressure) than the latter. Related Reading: Bitcoin Extreme Greed Is Nearly Here: Will This Lead To A Top? On the other hand, the negative indicator implies that Coinbase users are participating in a higher degree of selling than Binance ones, as the coin is trading at a lower rate there. Now, here is a chart that s ..
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