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Bitcoin Bottom← Today's Score
Market & MacroWeight: 70 / 100 · Source: CoinMetrics

Coinbase Premium — US Institutional Bitcoin Demand Signal

The Coinbase Premium measures the price difference between Coinbase (the primary US institutional venue) and other exchanges. A positive premium signals strong US institutional buying demand. At bottoms, the premium often turns positive as institutions accumulate.

What It Measures

The price spread between BTC/USD on Coinbase Pro and BTC/USDT on Binance, as a percentage. Reflects the relative demand from US-based institutional investors versus global retail.

How It's Calculated

Coinbase Premium = (Coinbase BTC/USD price − Binance BTC/USDT price) / Binance BTC/USDT price × 100. Sourced from CoinMetrics.

Bottom Signal

Premium turning positive or recovering from deeply negative — institutional buyers returning to Coinbase as price hits historically attractive levels.

Historical Readings at Cycle Bottoms

Bear market bottoms have typically seen the Coinbase premium recover as US institutions begin accumulating before broader markets notice.

How to Read the Score

+0.3 to +1.0
Strong Bottom Signal
0 to +0.3
Mild Bottom Signal
−0.3 to 0
Neutral / Slight Caution
−1.0 to −0.3
No Bottom Signal
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Not financial advice. Bitcoin is a high-risk asset. Past signal accuracy does not guarantee future results.