Coinbase Premium negative all October, US Bitcoin demand weak

Coinbase official logo (public domain, Wikimedia Commons) — CryptoBriefing brand treatment The Coinbase Premium, an indicator comparing the price of Bitcoin on Coinbase with Binance, has remained negative throughout October, according to data from CryptoQuant. This sustained negative trend suggests that U.S. buyers have remained largely inactive in the Bitcoin market this month. As of October 25, the index registered a negative reading of -0.1259%, marking 33 consecutive days below zero. This development comes as Bitcoin trades near $79,900, highlighting a continued price discount on Coinbase relative to Binance. Key Takeaways The persistent negative Coinbase Premium appears to indicate weaker demand from U.S. buyers in October. This sustained trend is consistent with scenarios where Ethereum may struggle to reach higher price targets by year-end. Market pricing suggests participants might view the current U.S. Bitcoin market activity as a potential indicator of broader cryptocurrency market sentiment. What to Watch Observers should monitor any shifts in U.S. buyer activity on Coinbase that could reverse the negative premium trend. Additionally, developments in Ethereum’s price tra...