Bitcoin’s Coinbase premium sinks to one-month low as US buying interest fades

American Bitcoin buyers are pulling back. The Coinbase Premium Index, a closely watched gauge that measures BTC’s price on Coinbase versus its price on global exchanges like Binance, has dropped to its lowest level in roughly a month, sitting in deeply negative territory that points to waning enthusiasm among US market participants. As of mid-September, the index recorded a seven-day negative streak at -0.0205%, its worst sustained reading since a brief positive blip on August 24. Bitcoin was trading near the $75,600 to $75,800 range during this stretch, a price level that apparently wasn’t enough to coax US buyers off the sidelines. What the premium index actually tells us The Coinbase Premium Index works like a thermometer for American crypto appetite. When Bitcoin trades at a higher price on Coinbase than on Binance or other global venues, the index goes positive, meaning US buyers are willing to pay more. When it flips negative, the reverse is true: US demand is softer than international demand, or American holders are selling more aggressively than their overseas counterparts. The current dip is notable, but not unprecedented. Before briefly turning positive on August 24, the ...