The Coinbase Premium Gap has fallen to its lowest level since December 2024, signalling intensifying selling pressure from institutional bitcoin investors.
The metric, which tracks the price difference between bitcoin on Coinbase and Binance, has turned deeply negative, suggesting professional investors are offloading holdings faster than retail traders.
“The selling pressure is intensifying on the institutional side,”
Said CryptoQuant analyst, Darkfost, noting that bitcoin is now trading cheaper on Coinbase than on Binance.
CryptoQuant data show the premium gap has dropped to around -168 and has been trending lower since October, with declines accelerating over the past week.
The analyst said the downtrend reflects reduced activity from large investors on Coinbase amid a market environment that is “extremely challenging and highly uncertain.”
CryptoQuant also said institutional demand has “reversed materially,” with US spot bitcoin exchange-traded funds becoming net sellers in 2026 after heavy buying a year earlier.
Spot bitcoin ETFs have seen about $1.2 billion in outflows over the past week, adding to downward pressure as bitcoin slid to a 15-month low below $71,000.
At the time of reporting, Bitcoin price was $71,283.35.