Bitcoin Coinbase Premium Returns To Neutral: Buying Push Already Over?
Summary
The Bitcoin Coinbase Premium that drove the rally above $70,000 has decreased, indicating a slowdown in buying. The premium gap, tracking price differences between Coinbase and Binance, has returned to neutral levels. The metric's positive values coincided with the price surge, suggesting institutional buying from Coinbase. As the premium nears neutrality, it may signal reduced institutional buying and potential decline in BTC price. Currently, Bitcoin is trading around $70,100, up more than 11% over the past week.
