# [Wall Street liquidity radar] Bitcoin’s US discount widens for five days as buying signals stay weak By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/40499 Published: 2026-10-25T11:42:42.000Z Updated: 2026-10-25T11:42:42.000Z Section: Investing > Bitcoin’s US discount widened for five consecutive days through October 25 as Coinbase Prime trading volume fell 24.8%. Rising volatility and a firmer dollar added to the cautious backdrop. Bitcoin’s US price discount widened for five consecutive days through October 25, while institutional trading activity declined, leaving limited evidence of a recovery in US buying demand. The latest Coinbase premium reading on October 25 was -0.191%. The daily series showed a discount of -0.0818% on October 21, widening to -0.1338% on October 22, -0.1372% on October 23, -0.1465% on October 24 and -0.2024% on October 25. The premium compares Coinbase prices with Binance prices. A positive reading indicates a higher US price; a negative reading indicates a discount. The widening discount suggests US buying demand remained relatively weak. Bitcoin: Coinbase premium (%) ![ Wall Street liquidity radar Bitcoin’s US discount widens for five days as buying signals stay weak]() Trading volume at Coinbase Prime, an institutional trading venue, totaled 3,727.66 BTC on October 24, down 24.8% from 4,959.79 BTC on October 23. Separately, its reported 24-hour dollar trading volume was approximately $380.79 million. Trading volume measures activity rather than the direction of institutional positions. Lower turnover alone does not establish institutional selling, but alongside the widening US spot discount, it offers little confirmation of renewed buying demand. CFTC disclosures showed leveraged funds holding 5,466 long contracts and 10,408 short contracts in CME Bitcoin futures as of October 20. Shorts substantially exceeded longs. These positions are reported weekly and represent an earlier snapshot than the latest spot readings. The VIX volatility index rose to 19.45 on October 23 from 19.03 on October 22, an increase of 0.42. That extended its rise from 16.68 on October 21. ![ Wall Street liquidity radar Bitcoin’s US discount widens for five days as buying signals stay weak]() The VIX reflects expected volatility in US equities. Its upward direction points to greater market unease, which can weigh on appetite for risk assets such as Bitcoin. The dollar index rose to 101.81 on October 23 from 101.61 the previous day, an increase of 0.20. The US 10-year Treasury yield stood at 4.96% on October 22. A firmer dollar and elevated yields add to the cautious backdrop for risk assets. Together, the indicators suggest restrained US buying appetite. A narrowing spot discount and a recovery in institutional turnover would provide stronger evidence of improving demand, while equity volatility and dollar strength remain relevant to the broader backdrop. [Editor’s note] Wall Street liquidity radar tracks four indicators of US Bitcoin sentiment: CME leveraged-fund futures positions, the Coinbase premium, the VIX and Coinbase Prime trading volume. Together, they provide context on positioning, relative spot demand, market uncertainty and institutional trading activity.