Add as a preferred source on GoogleCoinbase Bitcoin (BTC) Premium Index Remains Negative at -0.15% on Nov. 8
The index moved closer to zero from -0.17% on Nov. 7, though Coinbase Pro’s Bitcoin quote remained below Binance’s.
The Coinbase Bitcoin Premium Index remained negative at -0.15% on Nov. 8, compared with -0.17% in the Nov. 7 reading.
The index stood at -0.15%, closer to zero than its -0.17% reading on Nov. 7. The move shows that the price gap between the two exchanges narrowed, even as the index remained negative.
The index measures the difference between Bitcoin prices quoted on Coinbase Pro and Binance. A reading below zero means the Coinbase Pro quote is lower. The reading does not measure how much Bitcoin U.S. investors bought or sold.
A sustained negative premium can reflect weaker buying or stronger selling pressure on Coinbase Pro. It cannot, by itself, establish that institutional investors are moving funds out of Bitcoin. The smaller gap on Nov. 8 likewise does not mean the premium turned positive.
The current stretch follows an earlier run of 97 consecutive negative readings. That run ended when the index briefly reached 0.0052% on Aug. 24.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.