Coinbase Bitcoin Premium Widens, US Market Selling Pressure May Lead This Round of Pullback

BlockBeats News, June 4th, according to Coinglass data, since May 19th, the Coinbase Bitcoin negative premium trend has expanded, currently at -0.1931%. It has been in a negative premium for 17 consecutive days, indicating that the U.S. market's demand for BTC has not yet significantly recovered, and investor risk appetite has decreased. During the same period, Bitcoin has retraced from $77,000 to the current $62,000, with this round of pullback possibly led by U.S. investors.

The Coinbase Bitcoin Premium Index is used to measure the difference between the price of Bitcoin on Coinbase and the global market average price. A negative premium usually reflects a greater selling pressure in the U.S. market, a decrease in investor risk appetite, a rise in market risk aversion sentiment, or capital outflows.