While bitcoin recovered back to $25,166, the gap between Coinbase and Binance also opened up. Bitcoin is trading 3 percent higher on Coinbase than on Binance, according to CryptoQuant’s BTC Price Premium Indicator.
The difference in price points to two possibilities
Ki Young Ju, CEO of CryptoQuant, said that there are two possibilities in this situation. The first is that some whales sold large amounts of BTC on Binance, and the second is that Coinbase whales saw the decline as an opportunity to buy.
The number one cryptocurrency saw some recovery after falling to $25,000. As of 01.25, bitcoin is trading at $26,375.
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