The latest data from Coinglass, dated November 7th, reveals that the Coinbase Bitcoin Premium Index stands at a notable 0.1291%. This index serves as a critical indicator that quantifies the deviation in Bitcoin prices on Coinbase Pro (traded in USD) against those on Binance (traded in USDT). The discernible gap in pricing between these two exchanges sheds light on the purchasing activity among U.S. investors relative to those in the broader global market. A heightened premium can signify stronger buying interest domestically, potentially influencing market dynamics and price trajectories. As investors analyze these metrics, it becomes essential to remain cognizant of such trends, as they can provide significant insights into market sentiment and the overall demand for Bitcoin within the United States.
Source: https://en.coinotag.com/coinbase-bitcoin-premium-index-at-0-1291-insights-into-u-s-investor-buying-pressure/