The Coinbase Premium Index, which compares the price of Bitcoin on the US Coinbase platform with the price of Bitcoin on other platforms, indicates a decline in demand for Bitcoin from US investors. The index did not see significant increases and remained within June's levels, despite Bitcoin's record highs in July. This suggests that Coinbase investors are not buying Bitcoin as much as usual, or perhaps selling it. The index's continued decline toward negative territory, along with the rise in Bitcoin's price, suggests that profit-taking is taking place on Bitcoin by Coinbase investors. Investors may be waiting for lower Bitcoin prices to enter into purchases.
On the other hand, the Korea Premium Index, which shows the difference between the price of Bitcoin on Korean platforms compared to the global price, indicates a significant decline in demand for Bitcoin on Korean platforms from retailers, indicating weak buying appetite and the presence of selling. This indicates that retailers are consistently selling at a price lower than the average market price and are not finding opportunities in the market, thus refraining from buying. Retailers may be seeking to buy at a discount only.
Written by Arab Chain
