Markets· ★★★· bearish·

Coinbase Premium Negative for Five Days as US Spot Demand Weakens

  • —Coinbase Premium: -0.0561% on Oct 7, -0.1099% on Oct 9, -0.1181% on Oct 11
  • —Coinbase Prime volume fell 63.7% to 1,623.19 BTC from 4,468.96 BTC a day earlier
  • —CME leveraged funds held 5,731 longs vs 12,583 shorts as of Oct 6, a 2.2x short tilt
  • —VIX eased to 14.84, dollar index stood at 102.21, 10-year Treasury yield at 5.22%
Why it matters: The persistent discount and shrinking institutional volume point to soft US demand; a return of the premium to positive territory would be the first sign of a rebound.
#BTC
Source: TokenPost
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