Bitcoin’s 64-Day Coinbase Discount Driven by USDT Basis Rather Than US Selling
Key Highlights: The widely monitored Coinbase Bitcoin premium widened to minus 15.2 basis points against Binance, but adjusting for the Tether (USDT) exchange rate reduces the true cross-venue gap to just minus 1.4 basis points. Across 79 overlapping market sessions from August 21 to November 7, the raw gap held a -0.969 correlation with the ...