According to Coinglass data, the Coinbase Bitcoin Premium Index is temporarily reported at -0.0987%.
It is reported that the Coinbase Bitcoin Premium Index is an indicator that measures the percentage difference between the Bitcoin price on Coinbase Pro (US dollar pair) and the price on Binance (USDT trading pair). Coinbase is a popular cryptocurrency exchange among US investors (especially large institutions), while Binance has a larger global user base.
This means that the difference between BTC prices on the two platforms can hint at whether US investors are exerting greater buying pressure on the market than global investors.