The ‘Coinbase premium’ on Bitcoin (BTC) widened to a deeper discount this week, signaling softer spot buying appetite from U.S.-based traders even as institutional activity on Coinbase’s prime brokerage platform accelerated. Data from CryptoQuant showed that on Wednesday, June 18 UTC, netflow for BTC on Coinbase Advanced—often used as a proxy for higher ‘institutional participation’ relative to retail-heavy venues—stood at -267 BTC, indicating a net outflow from the exchange.
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