{"id":573855,"date":"2024-02-08T03:00:19","date_gmt":"2024-02-08T03:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=573855"},"modified":"2024-06-11T08:06:21","modified_gmt":"2024-06-11T08:06:21","slug":"bitcoin-coinbase-premium-negative-price-recovery","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-coinbase-premium-negative-price-recovery\/","title":{"rendered":"Bitcoin Coinbase Premium Is Negative: What It Means For Price Recovery"},"content":{"rendered":"

Data shows the Bitcoin Coinbase Premium Gap is currently negative. Here’s what this could mean for the asset’s recent attempt at recovery.<\/p>\n

Bitcoin Coinbase Premium Gap Has Been Deep Red Recently<\/h2>\n

An analyst in a CryptoQuant Quicktake post<\/a> pointed out that the Coinbase Premium Gap has been negative recently. The “Coinbase Premium Gap<\/a>” here refers to an indicator that tracks the difference between the Bitcoin prices listed on cryptocurrency exchanges Coinbase (USD pair) and Binance<\/a> (USDT pair).<\/p>\n

When the value of this metric is positive, it means that the price listed on Coinbase is greater than that on Binance right now. Such a trend implies that the former platform is currently witnessing a higher buying pressure or a lower selling pressure than the latter.<\/p>\n

Related Reading: Microstrategy Buys More Bitcoin: Here\u2019s How Much Profit It Holds Now<\/a><\/div>\n

On the other hand, the negative indicator suggests Coinbase is witnessing relatively high selling pressure as the price listed here is lower than on Binance.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Gap over the last few years:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the metric has been quite red in recent days | Source: CryptoQuant<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin Coinbase Premium Gap has plunged into negative values recently, implying that the selling pressure on Coinbase has risen.<\/p>\n
Earlier, the metric had a notable positive streak, and this run coincided with a rally in the cryptocurrency’s price. The asset fell as the indicator flipped towards red, suggesting increased selling pressure may have contributed.<\/p>\n
US-based institutional investors commonly<\/a> use Coinbase, while Binance has a more global audience. As such, the Premium Gap can provide hints about American whales’ buying or selling behavior.<\/p>\n
It would appear that these institutional players were buying during the recent rally, but as soon as they switched towards selling, the price suffered for it. The last bull market also saw significant buying pressure from these investors, while the bear market saw the indicator restricted to negative or neutral levels.<\/p>\n
Related Reading: XRP Buy Signal Goes Off, Analyst Says This Is How Long Uptrend Will Last<\/a><\/div>\n
Bitcoin has been trying to recover from its recent drawdown, but from the chart, it’s apparent that the Coinbase Premium Gap is still at deep red values.<\/p>\n
Thus, the fact that large American investors are falling behind in buying pressure may not bode well for this recovery attempt if the recent pattern followed by the metric is anything to go by.<\/p>\n
BTC Price<\/h2>\n
Since the visit below the $39,000 level, Bitcoin has seen a notable rebound below the $43,000 mark. The chart below shows how the coin has performed over the past month.<\/p>\n
\"Bitcoin<\/p>\n
The price of the coin appears to have been consolidating sideways recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
This recovery has stood so far, but given the negative Coinbase Premium Gap, the cryptocurrency may encounter some resistance soon.<\/p>\n
Featured image from Aleksi R\u00e4is\u00e4 on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Data shows the Bitcoin Coinbase Premium Gap is currently negative. Here’s what this could mean for the asset’s recent attempt at recovery. Bitcoin Coinbase Premium Gap Has Been Deep Red Recently An analyst in a CryptoQuant Quicktake post pointed out that the Coinbase Premium Gap has been negative recently. The “Coinbase Premium Gap” here refers to an indicator that tracks the difference between the Bitcoin prices listed on cryptocurrency exchanges Coinbase (USD pair) and Binance (USDT pair). When the value of this metric is positive, it means that the price listed on Coinbase is greater than that on Binance right now. Such a trend implies that the former platform is currently witnessing a higher buying pressure or a lower selling pressure than the latter. Related Reading: Microstrategy Buys More Bitcoin: Here\u2019s How Much Profit It Holds Now On the other hand, the negative indicator suggests Coinbase is witnessing relatively high selling pressure as the price listed here is lower than on Binance. Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Gap over the last few years: Looks like the value of the metric has been quite red in recent days | Source: CryptoQuant As displayed in the above graph, the Bitcoin Coinbase Premium Gap has plunged into negative values recently, implying that the selling pressure on Coinbase has risen. Earlier, the metric had a notable positive streak, and this run coincided with a rally in the cryptocurrency’s price. The asset fell as the indicator flipped towards red, suggesting increased selling pressure may have contributed. US-based institutional investors commonly use Coinbase, while Binance has a more global audience. As such, the Premium Gap can provide hints about American whales’ buying or selling behavior. It would appear that these institutional players were buying during the recent rally, but as soon as they switched towards selling, the price suffered for it. The last bull market also saw significant buying pressure from these investors, while the bear market saw the indicator restricted to negative or neutral levels. Related Reading: XRP Buy Signal Goes Off, Analyst Says This Is How Long Uptrend Will Last Bitcoin has been trying to recover from its recent drawdown, but from the chart, it’s apparent that the Coinbase Premium Gap is still at deep red values. Thus, the fact that large American investors are falling behind in buying pressure may not bode well for this recovery attempt if the recent pattern followed by the metric is anything to go by. BTC Price Since the visit below the $39,000 level, Bitcoin has seen a notable rebound below the $43,000 mark. The chart below shows how the coin has performed over the past month. The price of the coin appears to have been consolidating sideways recently | Source: BTCUSD on TradingView This recovery has stood so far, but given the negative Coinbase Premium Gap, the cryptocurrency may encounter some resistance soon. Featured image from Aleksi R\u00e4is\u00e4 on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":573868,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,87965,86244,679,16924,1119,1144,1393],"class_list":["post-573855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-coinbase-premium","tag-bitcoin-coinbase-premium-gap","tag-bitcoin-price","tag-bitcoin-recovery","tag-btc","tag-btcusd","tag-coinbase"],"acf":[],"yoast_head":"\nBitcoin Coinbase Premium Is Negative: What It Means For Price Recovery<\/title>\n<meta name=\"description\" content=\"Data shows the Bitcoin Coinbase Premium Gap is negative currently. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Coinbase Premium Is Negative: What It Means For Price Recovery","url":"http:\/\/wncen.com\/news\/bitcoin-coinbase-premium-negative-price-recovery\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-coinbase-premium-negative-price-recovery\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/aleksi-raisa-DCCt1CQT8Os-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/aleksi-raisa-DCCt1CQT8Os-unsplash.jpg?fit=5000%2C2994"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin coinbase premium","bitcoin coinbase premium gap","bitcoin price","bitcoin recovery","btc","btcusd","coinbase"],"dateCreated":"2024-02-08T03:00:19Z","datePublished":"2024-02-08T03:00:19Z","dateModified":"2024-06-11T08:06:21Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Coinbase Premium Is Negative: What It Means For Price Recovery\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-coinbase-premium-negative-price-recovery\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-coinbase-premium-negative-price-recovery\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/aleksi-raisa-DCCt1CQT8Os-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/aleksi-raisa-DCCt1CQT8Os-unsplash.jpg?fit=5000%2C2994\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin coinbase premium\",\"bitcoin coinbase premium gap\",\"bitcoin price\",\"bitcoin recovery\",\"btc\",\"btcusd\",\"coinbase\"],\"dateCreated\":\"2024-02-08T03:00:19Z\",\"datePublished\":\"2024-02-08T03:00:19Z\",\"dateModified\":\"2024-06-11T08:06:21Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/aleksi-raisa-DCCt1CQT8Os-unsplash.jpg?fit=5000%2C2994","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/573855"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=573855"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/573855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/573868"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=573855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=573855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=573855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}