BTC
$96,250.18
2.22%
ETH
$2,628.68
3.58%
USDT
$1.0001
0.02%
XRP
$2.4285
3.87%
SOL
$196.28
4.70%
BNB
$637.59
0.66%
USDC
$1.0001
0.02%
DOGE
$0.2554
5.13%
ADA
$0.7782
4.53%
TRX
$0.2408
2.96%
WBTC
$96,170.84
2.11%
LINK
$18.75
5.20%
AVAX
$25.27
6.78%
SUI
$3.2967
7.93%
XLM
$0.3193
6.35%
SHIB
$0.0₄1589
4.16%
TON
$3.7422
4.30%
LEO
$9.6062
0.15%
LTC
$118.15
9.87%
HBAR
$0.2261
8.38%
By Omkar Godbole|Edited by Parikshit Mishra
Updated Feb 12, 2025, 8:07 a.m. UTCPublished Feb 12, 2025, 8:04 a.m. UTC
What to know:
Bitcoin’s (BTC) Coinbase premium indicator, which measures the spread between BTC’s dollar-denominated price on the Coinbase exchange and tether-denominated price on Binance, has flipped negative for the first time since the Feb. 3 crash, according to data source Coinglass.
It’s a sign that traders over the Nasdaq-listed exchange have turned cautious ahead of Wednesday’s U.S. CPI release, and their offshore counterparts have led the price recovery from overnight lows near $94,900 to $96,000.
Story continues
Historically, bull runs have been marked by prices trading at a premium on Coinbase, indicating strong leadership from U.S. investors. The premium soared to two-month highs in early November as BTC rose into its the-then uncharted territory above $70,000.
Omkar Godbole is a Co-Managing Editor on CoinDesk’s Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
Disclosure
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