The Coinbase Premium has recorded a significant negative value. This indicator reflects the price difference of Bitcoin between Coinbase and Binance exchanges.
In other words, during the current upward trend, the fact that the Coinbase Premium is negative while Bitcoinâs price isnât falling suggests that there is strong buying pressure occurring on Binance.
For Bitcoinâs price to see a significant increase, buying pressure needs to expand beyond the U.S., driven by FOMO (Fear of Missing Out) across global markets.
This movement is quite positive.
Written by Avocado_onchain