Matrixport: Coinbase discount narrowing may indicate easing Bitcoin selling pressure.

Matrixport released a chart today stating that since October, Bitcoin's price on Coinbase has consistently lagged behind other global exchanges, forming a significant discount. While this price difference is partly influenced by USDT price fluctuations, the persistent discount reflects a stronger selling tendency among investors on the Coinbase platform. An imbalance in fund flows from the US market is likely one of the key reasons for the continued market pressure in recent months. However, when Bitcoin's price briefly fell to around $60,000, the discount began to narrow and has now essentially returned to a neutral level. As we previously mentioned, this correction often signifies that most of the selling pressure has been gradually absorbed by the market, and Bitcoin's trading environment is expected to improve accordingly. Recent price movements seem to confirm this assessment. Despite ongoing geopolitical risks and overall weak performance of risk assets, Bitcoin's overall trend remains relatively stable. This may indicate that the previous period of heavy selling pressure is gradually coming to an end, and the market environment is expected to see marginal improvement.