May 6, 2025

The price of bitcoin forms two gaps in BTC futures after the Coinbase premium turns negative

The Bitcoin premium on Coinbase falls below zero, signaling bearish sentiment and possible volatility, with CME gaps on both sides of the market.

Key Points:

The Coinbase Bitcoin premium index turned negative for the first time in 15 days, indicating a defensive short-term sentiment among U.S. investors.

The gaps in Bitcoin futures on CME between support at $92,000-$92,500 and resistance at $96,400-$97,400 suggest a range trading period.

The Coinbase Bitcoin premium index, which measures the difference between the price of BTC on Coinbase Pro and the Binance exchange, turned negative after a positive period of 15 days, indicating potential bearish sentiment among U.S. investors.

This drop coincides with Bitcoin

BTC

€82,934

slipping below $94,000, and the decline in premium suggests reduced buying pressure on Coinbase, which is seen as an indicator of both institutional and retail demand.

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