The Bitcoin Coinbase Premium Index suggests US investors have been selling more heavily than others during the latest crash in the crypto.
Bitcoin Coinbase Premium Index Has Turned Deep Red Recently
As pointed out by an analyst in a CryptoQuant post, whales on Coinbase Pro seem to have been behind the latest dump.
The “Coinbase Premium Index” is an indicator that measures the percentage difference between the Bitcoin price listed on Coinbase Pro (USD Pair) and the one listed on Binance (USDT pair).
Coinbase Pro is popularly known to be used by investors based in the US (especially large institutionals), while Binance gets a more global traffic.
Therefore, the price gaps listed on these two crypto exchanges can hint at which investors are selling or