Coinbase Premium negative all October, US Bitcoin demand weak

The Coinbase Premium, an indicator comparing the price of Bitcoin on Coinbase with Binance, has remained negative throughout October, according to data from CryptoQuant. This sustained negative trend suggests that U.S. buyers have remained largely inactive in the Bitcoin market this month. As of October 25, the index registered a negative reading of -0.1259%, marking 33 consecutive days below zero. This development comes as Bitcoin trades near $79,900, highlighting a continued price discount on Coinbase relative to Binance. Observers should monitor any shifts in U.S. buyer activity on Coinbase that could reverse the negative premium trend. Additionally, developments in Ethereum’s price trajectory will be crucial, especially given the current market pricing indicating a low probability of reaching $10,000 by December 31, 2026.

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