Coinbase Bitcoin Price Traded Below Binance for Record 97 Days
Coinbase's bitcoin price has been trading below Binance for an extended period of time. Since May 19, the Coinbase Bitcoin Premium Index has set a record by staying in negative territory for 97 consecutive days.
This streak far surpasses the previous record of 40 days from January 16 to February 24 and the roughly 30-day reverse premium recorded during last October's mass liquidation event.
The Coinbase Premium Index tracks the price difference between Coinbase and Binance. A negative reading means that the price is higher on Binance, which could indicate weak buying demand in the US market or stronger selling pressure.