Bitcoin keeps losing ground when Wall Street opens as Coinbase discount deepens

Bitcoin’s US-session weakness is deepening as BTC prices on Coinbase trade at a $64 discount to Binance, the largest global crypto exchangeBitcoin has lost a compounded 3.24% during US stock-market hours since Sept. 21, while prices outside that window advanced 6.07%, according to a CryptoSlate analysis of Binance BTC/USDT trading. During this period, CryptoQuant’s Coinbase Premium Gap fell to -$64, pointing to weaker demand or heavier selling on the US-focused exchange.Bitcoin's Coinbase Premium (Source: CryptoQuant)The pattern supports Glassnode’s view that the American trading session has become a source of pressure. But the losses were heavily concentrated in two sessions, while ETF flows on those dates moved in opposite directions, complicating claims of persistent institutional selling.Two sessions drove most of the declineAcross 13 Wall Street cash sessions from Sept. 21 through Oct. 7, Bitcoin fell during eight. According to CryptoSlate's analysis of Binance's data, the largest declines came on Sept. 30 and Oct. 2, when prices dropped 1.86% and 2.65%, respectively, during the 9:30 a.m.-to-4 p.m. New York window.Remove those two dates and the remaining 11 sessions produce a ...