# [Wall Street liquidity radar] Bitcoin’s US discount persists as institutional trading falls sharply By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/51590 Published: 2026-11-08T12:24:04.000Z Updated: 2026-11-08T12:24:04.000Z Section: Investing > Bitcoin’s live Coinbase premium was -0.16% on November 8, while Coinbase Prime volume fell to 2,446.61 BTC. Lower volatility offered some relief, but US demand indicators remained subdued. Bitcoin continued to trade at a discount in the United States, while a sharp fall in institutional trading pointed to subdued participation. Equity-market volatility eased from the previous session, but the broader backdrop remained consistent with caution toward risk assets. The lower US price has yet to produce a clear signal of stronger American buying demand. Reduced activity through an institutional trading venue adds to the evidence of restrained participation. The Coinbase premium stood at -0.15% on November 3, narrowed to -0.09% on November 4, then returned to -0.16% on November 5. It registered -0.15% on both November 6 and November 7 after rounding. The live reading on November 8 was -0.16%. A positive premium means bitcoin commands a higher price on Coinbase than on Binance; a negative reading means it trades at a discount. The consistently negative daily readings suggest relatively weaker US buying demand. Bitcoin: Coinbase premium (%) ![ Wall Street liquidity radar Bitcoin’s US discount persists as institutional trading falls sharply]() Coinbase Prime, an institutional trading venue, recorded volume of 2,446.61 BTC on November 7, down sharply from 8,340.21 BTC on November 6. The November 7 volume was worth approximately $185.34 million at that day’s closing price. These figures capture executed trading through the institutional venue. Volume alone does not establish whether buying or selling dominated, but the decline indicates lower institutional participation. CFTC disclosures showed CME leveraged funds holding 5,114 long contracts and 7,705 short contracts as of November 3. Short positions exceeded long positions. The figures are published weekly and therefore reflect an earlier positioning snapshot. The VIX volatility index closed at 25.64 on November 6, down 2.54 points from 28.18 on November 5. ![ Wall Street liquidity radar Bitcoin’s US discount persists as institutional trading falls sharply]() The VIX measures expected US equity-market volatility. Its decline indicated easing market anxiety, although the reading remained above the column’s reference level of 20, suggesting continued caution toward assets such as bitcoin. The dollar index closed at 102.30 on November 6, up 0.75 points from 101.55 on November 5. The US 10-year Treasury yield stood at 4.84% on November 5. A firmer dollar and elevated yields form a demanding backdrop for risk assets. Taken together, the indicators suggest a cautious US appetite for bitcoin. A narrowing discount in completed daily readings and a recovery in institutional trading volume would provide evidence of a change in participation. [Editor’s note] Wall Street liquidity radar examines four indicators of US bitcoin sentiment: CME leveraged-fund positioning, the Coinbase premium, VIX volatility and Coinbase Prime trading volume. Together, they provide context on futures positioning, relative spot demand, equity-market anxiety and institutional trading activity.