On November 2, data from Coinglass revealed that the Coinbase Bitcoin Premium Index briefly registered at -0.038%. This index serves as a critical benchmark, reflecting the percentage divergence between Bitcoin prices on Coinbase Pro (traded against USD) and Binance (traded against USDT). A negative reading suggests that U.S. investors might be facing a lower demand relative to their global counterparts, indicating potential shifts in market sentiment. As market participants closely monitor such fluctuations, this index provides valuable insights into the dynamics of buyer behavior across different exchanges. Understanding these trends is essential for investors seeking to navigate the increasingly complex landscape of cryptocurrency trading.
Source: https://en.coinotag.com/breakingnews/coinbase-bitcoin-premium-index-hits-0-038-insights-into-u-s-investor-pressure/