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Gino Matos

Coinbase’s Bitcoin price discount to Binance widens as ETF outflows, USDT dynamics and arbitrage constraints collide

On Jan. 26, CoinGlass data showed its Coinbase Bitcoin Premium Index turning sharply negative, signaling that BTC began trading at a growing discount on Coinbase versus Binance. The divergence has emerged alongside more than $1.3 billion in recent US spot Bitcoin ETF outflows, shifting USDT/USD mechanics and tighter derivatives and arbitrage conditions.