Bitcoin (BTC) is currently hovering around $62,000, experiencing a balance between bullish and bearish forces. Recent data shows that Bitcoin remains under significant selling pressure from US institutional investors, which has impacted its momentum this month.
The Coinbase Premium Index, which measures the price difference of Bitcoin between Coinbase and Binance, has remained negative throughout October. As one of the top crypto exchanges in the US, Coinbase serves as a major platform for institutional trading of cryptocurrencies.
A negative index indicates that Bitcoin prices on Coinbase are trending lower than those on Binance. This suggests a stronger selling pressure from US investors, particularly institutional investors, which could affect Bitcoin's price trajectory.
To learn more about the differences between trading platforms, read our article on Coinbase vs. Coinbase Pro.
