Analysis: Coinbase-Binance BTC Price Spread Widens to Year-High; Spread May Converge After Binance Resumes Withdrawals

Odaily: Galaxy Research Head Alex Thorn posted that the USDT-adjusted discount of Bitcoin on Coinbase relative to Binance has widened to its largest level this year. However, Binance's earlier suspension of withdrawals restricted cross-platform arbitrage activity, making it difficult for this spread to accurately reflect genuine demand signals from the U.S. market. With Binance having resumed withdrawals, it is worth watching whether the spread between the two major exchanges will gradually narrow going forward.