Coinbase Premium shows the Bitcoin price difference between Coinbase Pro and Binance. A higher premium means stronger demand from US investors. Coinbase is one of the most popular exchanges among US institutional investors.

Coinbase Premium has been in the red recently, but quickly recovered after a sharp price drop. Interestingly, when the premium is negative, the market tends to recover.

This suggests that during the panic selling on Binance, where there are more small investors, US institutional investors may actively buy.