Bitcoin Coinbase premium stays negative for 51 days as US demand lags

Bitcoin’s Coinbase Premium Index has stayed below zero for 51 consecutive days, with the latest reading at −0.10% as the US exchange continues to price BTC below Binance. 51 consecutive days of negative Coinbase premiums date back to Sept. 23, according to CoinGlass. The latest −0.10% reading is less negative than the dashboard’s 30-day average of −0.14%. US Bitcoin ETF withdrawals and analysts’ demand concerns provide separate evidence of cautious buying. A negative exchange premium alone does not establish that institutional investors are withdrawing funds. According to CoinGlass data, the negative run began on Sept. 23, with its dashboard showing an annual average premium of −0.06%. Both the latest reading and the monthly average sit below that annual figure.

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