Bitcoin’s Coinbase premium turned negative. Here’s what it means for BTC price By Cointelegraph

Bitcoin's Coinbase premium turned negative. Here's what it means for BTC price
Bitcoin’s Coinbase premium turned negative. Here’s what it means for BTC price

Bitcoin’s (BTC) definitive breakout above $50,000 may have to wait longer to materialize as spot buying pressure on Coinbase Pro shows signs of weakening — at least, in the short term.

The Coinbase Premium Index, which measures the gap between the BTC price on Coinbase Pro and Binance, has flipped negative, according to CryptoQuant. In other words, selling pressure on Coinbase appears to be strengthening compared with other exchanges like Binance.

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