{"id":544290,"date":"2023-07-25T18:50:14","date_gmt":"2023-07-25T18:50:14","guid":{"rendered":"https:\/\/uniquehot.com\/?p=544290"},"modified":"2024-06-11T08:06:12","modified_gmt":"2024-06-11T08:06:12","slug":"bitcoin-coinbase-premium-red-institutionals-disinterested","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-coinbase-premium-red-institutionals-disinterested\/","title":{"rendered":"Bitcoin Coinbase Premium Turns Red, US Institutions Disinterested?"},"content":{"rendered":"

Data shows the Bitcoin Coinbase Premium Gap has turned negative recently, a sign that large US-based investors may be selling currently.<\/p>\n

Bitcoin Coinbase Premium Gap Has Remained Near Neutral For A While Now<\/h2>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, the interest from US investors in the asset has declined during the last couple of months. The indicator of interest here is the “Coinbase Premium Gap<\/a>,” which keeps track of the difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair).<\/p>\n

The Coinbase exchange is popularly known to be used by US-based investors (especially large institutions), while the Binance platform has a more global audience. Thus, the Coinbase Premium Gap can provide us with hints about the buying or selling pressure differences between these two user bases.<\/p>\n

When the value of this indicator is positive, it means that the price listed on Coinbase is more than that on Binance. This suggests that American users are potentially participating in a higher amount of buying than global investors currently.<\/p>\n

On the other hand, negative values of the metric suggest the US-based holders may be doing a higher amount of selling than the worldwide users (or alternatively, they are just buying less of the asset).<\/p>\n

Related Reading: Will Bitcoin Rebound? This Metric May Be The One To Watch<\/a><\/div>\n

Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Gap over the last few months:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric seems to have been around the neutral line in recent days | Source: CryptoQuant<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin Coinbase Premium Gap has turned slightly red recently, implying that the price on Coinbase has become lesser than on Binance.<\/p>\n
This discount implies that the US-based institutional investors have been participating in a heavier amount of selling than the global users during the latest downward move<\/a> in the cryptocurrency’s price.<\/p>\n
Even before this shift towards the small negative values, the indicator’s value had been mostly around the neutral mark during the last few months, meaning that American investors didn’t have any interest in accumulating the asset any more than the rest of the world.<\/p>\n
Related Reading: Bitcoin Sharks Continue Accumulation, But Whales Stagnate<\/a><\/div>\n
Back during the selloff in June, the US-based holders had even been applying notable selling pressure, as the metric’s value had been negative. This selloff was due to US-focused FUD from the SEC cases<\/a> against Binance and Coinbase, so it makes sense that this side of the market was selling to a higher degree.<\/p>\n
Earlier during the year, though, the US institutional investors had seemed very much interested in the asset, as they had been participating in a high amount of accumulation, which had resulted in the metric turning highly positive.<\/p>\n
At present, however, it would appear that large American investors continue to be disinterested in Bitcoin, considering that the Premium Gap is still floating near the neutral line.<\/p>\n
This low level of interest could translate to further downward movement for the digital asset as it struggles to hold above $29,000.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $29,200, down 3% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
BTC has observed a plunge recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Data shows the Bitcoin Coinbase Premium Gap has turned negative recently, a sign that large US-based investors may be selling currently. Bitcoin Coinbase Premium Gap Has Remained Near Neutral For A While Now As pointed out by an analyst in a CryptoQuant post, the interest from US investors in the asset has declined during the last couple of months. The indicator of interest here is the “Coinbase Premium Gap,” which keeps track of the difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair). The Coinbase exchange is popularly known to be used by US-based investors (especially large institutions), while the Binance platform has a more global audience. Thus, the Coinbase Premium Gap can provide us with hints about the buying or selling pressure differences between these two user bases. When the value of this indicator is positive, it means that the price listed on Coinbase is more than that on Binance. This suggests that American users are potentially participating in a higher amount of buying than global investors currently. On the other hand, negative values of the metric suggest the US-based holders may be doing a higher amount of selling than the worldwide users (or alternatively, they are just buying less of the asset). Related Reading: Will Bitcoin Rebound? This Metric May Be The One To Watch Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Gap over the last few months: The value of the metric seems to have been around the neutral line in recent days | Source: CryptoQuant As displayed in the above graph, the Bitcoin Coinbase Premium Gap has turned slightly red recently, implying that the price on Coinbase has become lesser than on Binance. This discount implies that the US-based institutional investors have been participating in a heavier amount of selling than the global users during the latest downward move in the cryptocurrency’s price. Even before this shift towards the small negative values, the indicator’s value had been mostly around the neutral mark during the last few months, meaning that American investors didn’t have any interest in accumulating the asset any more than the rest of the world. Related Reading: Bitcoin Sharks Continue Accumulation, But Whales Stagnate Back during the selloff in June, the US-based holders had even been applying notable selling pressure, as the metric’s value had been negative. This selloff was due to US-focused FUD from the SEC cases against Binance and Coinbase, so it makes sense that this side of the market was selling to a higher degree. Earlier during the year, though, the US institutional investors had seemed very much interested in the asset, as they had been participating in a high amount of accumulation, which had resulted in the metric turning highly positive. At present, however, it would appear that large American investors continue to be disinterested in Bitcoin, considering that the Premium Gap is still floating near the neutral line. This low level of interest could translate to further downward movement for the digital asset as it struggles to hold above $29,000. BTC Price At the time of writing, Bitcoin is trading around $29,200, down 3% in the last week. BTC has observed a plunge recently | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":544301,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,87965,1119,1144,1393],"class_list":["post-544290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-coinbase-premium","tag-btc","tag-btcusd","tag-coinbase"],"acf":[],"yoast_head":"\nBitcoin Coinbase Premium Turns Red, US Institutions Disinterested?<\/title>\n<meta name=\"description\" content=\"Data shows the Bitcoin Coinbase Premium Gap has turned negative recently, a sign that large US-based investors may be selling currently.\" \/>\n<meta name=\"robots\" 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Coinbase Premium Turns Red, US Institutions Disinterested?","url":"http:\/\/uniquehot.com\/news\/bitcoin-coinbase-premium-red-institutionals-disinterested\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-coinbase-premium-red-institutionals-disinterested\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/kanchanara-Lta5b8mPytw-unsplash-1-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/kanchanara-Lta5b8mPytw-unsplash-1-scaled.jpg?fit=2560%2C1703"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin coinbase premium","btc","btcusd","coinbase"],"dateCreated":"2023-07-25T18:50:14Z","datePublished":"2023-07-25T18:50:14Z","dateModified":"2024-06-11T08:06:12Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Coinbase Premium Turns Red, US Institutions Disinterested?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-coinbase-premium-red-institutionals-disinterested\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-coinbase-premium-red-institutionals-disinterested\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/kanchanara-Lta5b8mPytw-unsplash-1-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/kanchanara-Lta5b8mPytw-unsplash-1-scaled.jpg?fit=2560%2C1703\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin coinbase premium\",\"btc\",\"btcusd\",\"coinbase\"],\"dateCreated\":\"2023-07-25T18:50:14Z\",\"datePublished\":\"2023-07-25T18:50:14Z\",\"dateModified\":\"2024-06-11T08:06:12Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/kanchanara-Lta5b8mPytw-unsplash-1-scaled.jpg?fit=2560%2C1703","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/544290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=544290"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/544290\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/544301"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=544290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=544290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=544290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}