[Wall Street liquidity radar] Bitcoin’s US discount narrows, but buying conviction remains weak

Bitcoin’s US price discount has narrowed from late October, suggesting some easing in weak demand. Institutional trading volume has also increased, although the discount persists and futures positioning remains tilted toward shorts. The signals point to a tentative improvement in US buying conditions. Higher institutional turnover adds evidence of market participation, but does not establish stronger buying conviction. The Coinbase premium stood at -0.16% on November 2 in the daily series. It moved from -0.27% on October 29 to -0.24% on October 30, -0.20% on October 31 and -0.16% on November 1.

Source: TokenPost