The premium index for Bitcoin (BTC) on Coinbase stood at -0.06% Sunday, Nov. 15, extending its negative run to 53 days and pointing to weaker U.S. buying pressure.
The index compares Coinbase’s BTC-USD market with Binance’s BTC-USDT market. It uses the spread between the pairs to gauge U.S. buying and selling pressure relative to the broader market.
A negative reading indicates that Coinbase’s Bitcoin quote is below Binance’s, a pattern associated with relatively heavier selling pressure in the U.S. market.
Enna Lee
Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to [email protected].
