#Bitcoin has been trading at a big discount on Coinbase recently.

This came after the Mt. Gox news & sell off.

It has since been recovering some of that discount which can be seen at the blue line. This measures the difference between the Coinbase BTC/USD pair and Binance's BTC/USDT pair.

When overlaying with the BTC price (Orange), you can see how bullish periods are usually paired with Coinbase leading and trading above the price of Binance. While the big sell offs, primarily from ETFs, cause the Coinbase BTC price to trade below that of others.

It's healthy to see this ratio moving back closer to 0 as it shows US Investors not selling off heavily anymore and the exchanges are starting to trade closer to each other again.
#Bitcoin