According to CoinEdition, U.S. traders are showing strong sell pressure as the Coinbase Premium remains deeply negative. The index has stayed in negative territory throughout November, aligning with Bitcoin’s decline toward $84,500. The current readings reflect an extended period where Bitcoin traded below global spot prices on Coinbase, with the premium recently hovering near –0.06. Historically, negative premiums indicate aggressive selling by U.S. spot buyers, and the current readings match four consecutive weekly red candles for Bitcoin. The data highlights a sharp regional divergence between U.S. and global markets, with the premium gap reaching nearly negative $90 at one point. The divergence has added strain to Bitcoin’s market structure, with U.S. trading hours remaining negative for most of the month.
U.S. Bitcoin Sentiment Weakens as Market Undergoes Correction
CoinEditionShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.