Coinbase Premium: Coinbase vs Binance BTC

The Coinbase Premium is the Coinbase BTC-USD price minus the Binance BTC-USDT price. Because US institutions and spot ETFs trade heavily on Coinbase, it serves as a proxy for US demand. A persistently positive value suggests strong US buying; a persistently negative one suggests strong US selling.

Binance prices are quoted in USDT, so when USDT trades above $1 the value skews negative by that amount. For that reason, watch the trend over several days (whether it is widening or narrowing versus usual) rather than the absolute level. The last 7 days compare the closes of completed hourly candles.

It is not a direct signal of price direction but a reference indicator to read alongside ETF flows and funding rates. This is not investment advice.

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