According to @rovercrc, the Bitcoin Coinbase Premium Gap flipped negative, signaling Coinbase’s BTC/USD price is trading below offshore venues and indicating a potential shift in US-driven order flow. Source: @rovercrc on X, Oct 18, 2025. CryptoQuant defines the Coinbase Premium as the price difference between Coinbase and other major exchanges, with negative readings generally reflecting weaker US spot demand and short-term selling pressure. Source: CryptoQuant Indicator Documentation (Coinbase Premium Index). Traders monitor a negative Coinbase Premium for downside risk during US market hours and for confirmation alongside price action and liquidity signals. Source: CryptoQuant research notes on using Coinbase Premium as a proxy for US flows.

According to Cas Abbé, the Coinbase Bitcoin Premium is at its highest level in a month while BTC is moving lower, indicating a notable divergence between Coinbase spot pricing and the broader market direction; source: Cas Abbé on X, Aug 18, 2025. The Coinbase Premium Gap measures the price difference between BTC/USD on Coinbase and BTC/USDT on Binance, and a positive reading is generally interpreted as stronger US spot demand relative to offshore venues; source: CryptoQuant Glossary (Coinbase Premium Gap). A sustained positive Coinbase Premium during price weakness is a venue-specific divergence traders monitor for potential short-term spread mean reversion and relative strength in US-based flows; source: Kaiko research on exchange price dislocations and CryptoQuant metric guidance.