The Coinbase Premium Gap, which tracks the price difference between Bitcoin on Coinbase and Binance, has fallen to its lowest level in more than a year, currently at -167.8. CryptoQuant analyst Darkfost noted the move may point to weaker relative demand on Coinbase-linked venues, commonly associated with institutional trading. Darkfost added that selling pressure is intensifying on the institutional side, creating a negative gap and highlighting that the current -167.8 reading is the lowest since December 2024.
The premium has been trending lower since mid-October, with the decline accelerating over the past week. The analyst described the period as extremely challenging and highly uncertain, not conducive to risk-taking and to significant investments in BTC, which remains volatile. A decreasing trend indicates that whales are continuously selling at a lower premium and signals waning investor interest in Coinbase.
Taken together, the data suggests a broader shift in institutional demand for BTC as selling pressure increases on centralized venues. Analysts caution that the Coinbase-Binance premium gap remains a barometer for institutional appetite and market risk, underscoring the fragility of near-term Bitcoin demand.
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