Coinbase Bitcoin Premium Index shows that the price difference between Bitcoin on Coinbase Pro and Binance could hint at whether U.S. investors are exerting more buying pressure on the market than global investors. On November 7, the index temporarily reported 0.1291% according to Coinglass data. In simple terms, the Coinbase Bitcoin Premium Index is a measure of how much more expensive Bitcoin is on Coinbase Pro compared to Binance.
When the index is positive, it means that Bitcoin is more expensive on Coinbase Pro, which could suggest that U.S. investors are buying more. When the index is negative, it means that Bitcoin is cheaper on Coinbase Pro, which could suggest that global investors are buying more. On November 7, the index temporarily reported a positive value of 0.1291%, meaning that Bitcoin was more expensive on Coinbase Pro than on Binance at that time.
This could indicate that U.S. investors might have been exerting more buying pressure on the market than global investors at that moment. However, the index value changes frequently and can fluctuate based on various factors, so it’s essential to consider other indicators as well when analyzing market conditions.
