[Wall Street liquidity radar] Bitcoin buying signals diverge as discount narrows and institutional volume falls

U.S. Bitcoin demand showed mixed signs of recovery as the spot-market discount narrowed while trading volume on Coinbase Prime fell. The smaller discount suggested an improvement in relative U.S. demand, but weaker institutional trading activity left limited evidence of a broader buying recovery. The Coinbase premium, which compares Coinbase and Binance prices, moved from -0.24% on October 30 to -0.20% on October 31 and -0.16% on November 1. It widened to -0.18% on November 2 before narrowing to -0.15% on November 3. The live reading was -0.11% at 13:05 UTC on November 4.