Bitcoin’s Coinbase Premium Gap dropped to -$90 on November 19, 2025, reflecting a decrease in demand from US investors. The gap measures the price difference between Bitcoin on Coinbase (USD pairs) and Binance (USDT pairs).
Retail Traders Drive the Market, Leaving Institutions on the Sidelines
The current negative gap is a sign that retail traders, who are more reactive to short-term news, have taken control of the market. With the price of Bitcoin dipping slightly below $90,000 before recovering to the $91,000-$93,000 range, the market has seen less activity from larger institutional investors.
Typically, when institutions are active, Bitcoin tends to be more expensive on Coinbase due to their higher buying prices.
However, this trend has reversed as institutions appear to have paused their positions. As a result, Bitcoin’s price has become cheaper on Coinbase compared to Binance, which has a larger global retail audience.
Past Trends and Market Outlook
The negative gap is not unprecedented. A similar drop occurred in February 2025 when the gap reached -$138, but the market eventually stabilized.
The gap’s current level, at -$90, suggests that while retail trading is driving recent price changes, it is uncertain whether this trend will continue. Traders will be closely monitoring the gap to see if institutional interest returns, which could shift the market dynamics once again.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
