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Coinbase premium falls to 2024 lows as Bitcoin sees institutional selling pressure
Bitcoin’s recent slide below the $71,000 level is being accompanied by growing signs of institutional retreat, as a key market indicator tied to Coinbase has fallen to its lowest level in more than a year. Analysts say the shift reflects mounting selling pressure from professional investors amid an increasingly fragile market backdrop.
The Coinbase Premium Gap — a metric that tracks the price difference between Bitcoin traded on Coinbase and Binance — has plunged deeper into negative territory, signaling that Bitcoin is trading at a discount on the U.S.-based exchange favored by institutions, Cointelegraph reports. That divergence is often interpreted as a sign that large, professional players are reducing exposure while retail demand remains comparatively steadier elsewhere.
Coinbase premium signals institutional pressure
According to CryptoQuant data, the Coinbase Premium Gap has dropped to -167.8, its lowest reading since December 2024 and the most negative level seen this year. The metric compares the BTC/USD price on Coinbase Advanced Trade with the BTC/USDT pair on Binance.
“When it turns negative to this extent, it means that the price of BTC on Coinbase Pro… is lower than on Binance,” CryptoQuant analyst Darkfost said. “In other words, selling pressure coming from institutional players has intensified, pushing the price lower and creating a negative gap.”
Darkfost noted that the indicator is volume-weighted, meaning larger trades carry more influence in the calculation, helping filter out noise. The premium has been trending lower since mid-October, with the decline accelerating over the past week — a pattern that suggests “whales are continuously selling at a lower premium,” while activity on Coinbase has diminished.
ETF outflows reinforce demand reversal
The weakening premium coincides with a broader reversal in institutional flows. CryptoQuant said that U.S. spot Bitcoin exchange-traded funds, which collectively bought more than 46,000 BTC during the same period last year, have become net sellers in 2026, offloading 10,600 BTC.
That shift represents a 56,000 BTC demand gap versus 2025, contributing to sustained downward pressure on prices. Over the past week alone, spot Bitcoin ETFs recorded approximately $1.2 billion in outflows, while Bitcoin fell to a 15-month low below $71,000.
“The current period is extremely challenging and highly uncertain, a climate that is not conducive to risk-taking and therefore to significant investments in BTC,” Darkfost said, emphasizing that volatility and macro uncertainty continue to weigh on professional investors.
Why this matters
The deeply negative Coinbase Premium highlights a meaningful pullback by institutional players at a time when Bitcoin is already under macro-driven stress. Combined with ETF outflows, the data suggests that selling pressure is being driven less by panic and more by deliberate repositioning. Until institutional demand stabilizes, analysts warn that Bitcoin may remain vulnerable to further downside.
Read also: Bitcoin falls below $71,000 as liquidity tightens and selling accelerates
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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