CryptoQuant analyst MAC.D said that there is currently a negative premium of -0.221% for Bitcoin on Coinbase, the fifth time it has reached this level since May last year. This decline indicates that the buying demand of American investors has eased compared with Binance investors.
Analysts pointed out that historically, this phenomenon is temporary during bull markets and usually attracts new buyers who see it as an opportunity. Although it is uncertain whether the price after this sharp drop represents the bottom, if the bull market continues, a bottom may be formed soon, which may lead to a rebound.