# [Wall Street liquidity radar] Bitcoin’s US discount widens as institutional volume rises 29.8% By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/56661 Published: 2026-11-13T13:03:30.000Z Updated: 2026-11-13T13:03:30.000Z Section: Investing > Bitcoin’s US price discount widened while Coinbase Prime volume rose 29.8%. Higher volatility and a firmer dollar reinforce a cautious reading of US market sentiment. Bitcoin’s widening US price discount points to caution even as institutional trading activity increases. Volume through Coinbase Prime rose 29.8%, but the increase offers limited evidence of stronger buying conviction. The combination leaves a mixed picture: institutional participation has increased, while US spot pricing continues to show bitcoin trading below overseas levels. Coinbase’s premium closed at -0.13% on November 8, -0.14% on November 9, -0.13% on November 10, -0.12% on November 11 and -0.13% on November 12. The discount widened in the final session. A November 13 snapshot at 13:02 UTC put the premium at -0.15%. A positive premium indicates a higher US price relative to overseas markets; a negative reading indicates a discount. All five completed sessions were negative, providing little confirmation of US buying leadership. ![ Wall Street liquidity radar Bitcoin’s US discount widens as institutional volume rises 29.8%]() Coinbase Prime, an institutional trading venue, recorded 10,608.86 BTC in volume on November 12, up 29.8% from 8,170.33 BTC on November 11. Valued at the November 12 closing price, that activity amounted to approximately $757.15 million. The higher volume indicates greater institutional participation. Because trading volume includes both purchases and sales, however, it does not establish that institutions were accumulating bitcoin. CME leveraged-fund positioning was unavailable in the supplied data, leaving the futures component of the assessment incomplete. The VIX volatility index closed at 18.70 on November 12, up 1.21 points from 17.49 on November 11. ![ Wall Street liquidity radar Bitcoin’s US discount widens as institutional volume rises 29.8%]() The index reflects expected swings in US equities. Its increase suggests a more cautious backdrop for risk-taking, even as institutional bitcoin turnover expanded. The dollar index rose to 103.17 on November 12 from 102.91 on November 11, an increase of 0.26 points. The US 10-year Treasury yield stood at 4.98% as of November 10. A firmer dollar and elevated yields can weigh on demand for risk assets such as bitcoin. Taken together, the readings suggest caution carries more weight than buying conviction in the US market. Whether the Coinbase discount narrows in subsequent completed sessions, alongside sustained institutional activity, remains central to assessing that balance. [Editor’s note] Wall Street liquidity radar examines US bitcoin sentiment through four indicators: CME leveraged-fund positioning, the Coinbase premium, VIX volatility and Coinbase Prime trading volume. Together, they provide context for short-term market conditions and institutional participation.