Bitcoin’s Record 60-Day Coinbase Discount Signals Weaker U.S. Demand
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Bitcoin's Coinbase Premium Index has been negative for a record 60 consecutive days, most recently at -0.1025%, signaling Bitcoin trades at a discount on Coinbase versus Binance and reflecting weaker U.S. institutional demand. Markets remain cautious as Bitcoin tests key price levels amid fading institutional buying and global uncertainty, even as analysts argue ETF adoption could support long-term crypto adoption similar to gold.
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- A record 60-day Coinbase discount suggests U.S. institutional Bitcoin demand has yet to regain momentum.
- Bitcoin’s weak Coinbase premium contrasts with analysts’ view that ETF adoption could echo gold’s long-term rise.
- Markets remain cautious as Bitcoin tests key price levels amid fading institutional demand and global uncertainty.
Bitcoin is showing signs of weaker demand from U.S. investors after the Coinbase Bitcoin Premium Index remained negative for a record 60 straight days, according to data shared by Wu Blockchain.
The index compares Bitcoin’s price on Coinbase with Binance, and a negative reading indicates that Bitcoin is trading at a discount on Coinbase, suggesting softer buying interest from U.S.-based investors.
Coinglass data showed the index most recently stood at -0.1025%, extending the longest negative streak on record. The previous record laste…
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