Analysis: The convergence of Coinbase's discount may indicate that Bitcoin selling pressure is easing.

PANews reported on March 9th that Matrixport published an analysis 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 back to around $60,000, the discount began to narrow and has now essentially returned to a neutral level. As we mentioned before, this kind of correction often means that most of the selling pressure has been gradually absorbed by the market, and Bitcoin's trading conditions are expected to improve accordingly. Recent price movements seem to confirm this assessment. Despite ongoing geopolitical risks and the overall weakness of risk assets, Bitcoin's overall trend remains relatively stable. This may indicate that the earlier period of heavy selling pressure is gradually coming to an end, and the market environment is expected to see marginal improvement.