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Bitcoin Demand Shift: Coinbase's 60-Day BTC Premium Streak Is at Risk
BTC's Coinbase premium is a key indicator of U.S. investor demand, with positive values reflecting strong buying pressure from institutions.
Updated Jul 29, 2025, 7:08 a.m. Published Jul 29, 2025, 4:56 a.m.
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What to know:
- Bitcoin's premium on Coinbase has turned negative for the first time since late May, indicating a shift in market dynamics.
- The negative premium suggests a weakening demand from U.S. investors.
After a historic 60-day run, bitcoin's premium on Coinbase, a key indicator of robust U.S. investor demand, is dissipating, indicating a notable shift in market dynamics.
BTC's Coinbase premium, which represents the percentage difference between the BTC/USD pair on Coinbase and the BTC/USDT pair on Binance, turned negative early Tuesday, marking the first such instance since late May, according to data source TradingView.
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The negative flip indicates a renewed, relative weakening of demand from U.S. investors, supporting the case for an extended pullback in BTC's price.
The Coinbase Bitcoin Premium Index is a measure of the percentage difference between the price of Bitcoin on Coinbase Pro (USD pair) and the price on Binance (USDT trading pair).
A positive value is widely seen as an indicator of robust demand from U.S. investors, especially institutions. The Nasdaq-listed cryptocurrency exchange is popular among U.S. investors, particularly large institutions, while Binance has a bigger user base worldwide.
Recent bull runs have been marked by bitcoin trading at a premium on Coinbase, reflecting stronger buying pressure from sophisticated U.S. traders and institutions.
