Coinbase Premium drops to four-year low last seen following FTX collapse
Data from CryptoQuant shows the Coinbase Premium has plunged to a four-year low, matching levels recorded after the November 2022 collapse of FTX as Bitcoin trades near $77,300.
The Coinbase Premium has fallen to its lowest level in four years, matching territory not seen since the aftermath of the FTX collapse in November 2022, according to CryptoQuant data reported by Cointelegraph.[2]
The drop reflects a widening discount between Bitcoin prices on Coinbase and offshore exchanges. According to crypto.news, the decline came as Bitcoin dropped 3.5% in 24 hours to trade near $77,300 following a reported Binance hack. A CryptoQuant chart shared by crypto.news placed the Coinbase Premium Gap at -211.5, while an earlier chart from Cointelegraph showed the index hovering around -0.2 when Bitcoin traded near $77,900.[2][3]
Crypto Briefing noted that the depressed premium points to market caution and highlights negative sentiment that could weigh on broader cryptocurrency demand.[1]
Key facts
- The Coinbase Premium has reached a four-year low, matching levels last seen after the November 2022 FTX collapse, according to CryptoQuant data.
- CryptoQuant charts showed the Coinbase Premium Index reading at -0.2 with Bitcoin at $77,900, and the Coinbase Premium Gap reaching -211.5 with Bitcoin at $77,300.
- Bitcoin fell 3.5% over 24 hours to trade near $77,300 following a reported Binance hack.
- Crypto Briefing reported that the low premium indicates market caution and reflects broader negative sentiment that could affect cryptocurrency demand.
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- CB
Crypto BriefingArticle 路
Coinbase Premium hits 4-year low, echoes post-FTX collapse sentiment The low Coinbase Premium signals potential market caution, reflecting broader negative sentiment that could impact cryptocurrency demand. The post Coinbase Premium hits 4-year low, echoes post-FTX collapse sentiment appeared first on Crypto Briefing .
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Cointelegraph@CointelegraphPost on X 路
馃毃 UPDATE: Coinbase Premium hits a 4-year low, last seen after the FTX collapse in November 2022, per CryptoQuant. https://t.co/0NrRf2ywpF
Open source - CN
crypto.news@cryptodotnewsPost on X 路
JUST IN: Coinbase Premium drops to its lowest level since the FTX collapse CryptoQuant data shows the gap between Coinbase鈥檚 BTC price and offshore markets has hit a four-year low, as Bitcoin trades near $77,300, down 3.5% in 24 hours following the reported Binance hack. https://t.co/iQyFDOlCmQ
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