CryptoQuant: The current trading price of Bitcoin on Coinbase is at a discount

ChainCatcher message, data tracked by CryptoQuant shows that the 7-day moving average of the Coinbase Premium indicator has turned negative. This indicator tracks the price difference between Bitcoin prices on the Nasdaq-listed Coinbase exchange and the Binance exchange.

In other words, Bitcoin is currently trading at a discount on Coinbase, which is the custodian of 8 out of the 11 spot ETFs launched in the U.S. two months ago, also reflecting relatively weak net purchases by U.S. investors.