3 hours ago
1 0
BEARISH 📉 : Bitcoin trades at a persistent discount on Coinbase
Bitcoin has been consistently trading at a discount on Coinbase, with prices below the international average for the past three months. This negative premium is attributed to significant ETF outflows and selling pressure from US investors, often seen during market downturns or corrections.
Key Observations:
- Daan Crypto Trades highlights that sustained selling pressure reflects in Coinbase's negative premium.
- Market recovery requires support from ETF inflows and renewed US investor interest.
- Monitoring Coinbase premiums and discounts can indicate potential trend shifts.
Potential Market Movements:
- Bitcoin recently broke below its April 2025 low, indicating a critical point.
- If prices do not rebound, challenging midterm conditions could persist, according to ITC_Crypto's Benjamin Cowen.
- A countertrend rally might occur, providing temporary relief and boosting bull confidence.
- Historically, BTC has moved from the 100-week SMA to the 200-week SMA before any significant relief in downturns.
Benjamin Cowen advises against panic-driven sell-offs and suggests the end of Q3 to early Q4 as a preferable time to reinvest in the market. Traders should focus on navigating current support and resistance levels.
