A quant has suggested that the reason behind the recent negative Coinbase Premium could have been due to Tesla’s Bitcoin selling.
Tesla Dumping 75% Of Its Bitcoin Holdings Might Be Behind Negative Coinbase Premium Gap
As explained by an analyst in a CryptoQuant post, the news about Tesla selling off 75% of its BTC stash looks to be behind the recent negative premium gap on Coinbase.
The “Coinbase premium gap” is an indicator that measures the price difference between the Bitcoin listings on crypto exchanges Coinbase and Binance.