Matrixport: Coinbase Discount Narrows, Possibly Indicating Bitcoin Selling Pressure is Easing

Odaily News Matrixport released a chart today stating that since October, Bitcoin's price on Coinbase has consistently been lower than on other global exchanges, forming a noticeable discount. While this price gap is somewhat influenced by USDT price fluctuations, the persistent discount still reflects a more pronounced selling tendency among investors on the Coinbase platform. The outflow of funds from the US market has been imbalanced, which may be one of the significant reasons for the sustained market pressure in recent months.

However, when the Bitcoin price once fell to around $60,000, the discount began to narrow and has now largely returned to a neutral level. As we previously mentioned, such a correction often implies that most of the selling pressure has been gradually absorbed by the market, and Bitcoin's trading conditions are expected to improve accordingly.

Recent price movements seem to be confirming this assessment. Despite ongoing geopolitical risks and generally weak performance in overall risk assets, Bitcoin's overall trend remains relatively stable. This may indicate that the earlier phase of heavy selling pressure release is gradually nearing its end, and the market environment is also expected to see marginal improvements.