The percent difference between Bitcoin’s Coinbase Pro price (USD pair) and Binance price (USDT pair).
High premium values could indicate US investors’ strong buying pressure in Coinbase.
- During the 2021 bull run, the Coinbase premium index spiked to 0.5, demonstrating US investors were buying Bitcoin at relatively high price levels.
- As the cycle continued, these investors sold at record levels during the luna and FTX collapse.
- The Coinbase premium spiked to record levels during the collapse of Silicon Valley Bank and hit a record 1.0.
- The Coinbase premium is still at extremely elevated levels, which shows US investors are still aggressively buying Bitcoin.