According to CoinGlass data, the Coinbase Bitcoin Premium Index has recently shown a sharp decline. The index is an indicator that expresses the percentage (%) difference between the price of Bitcoin on Coinbase, the largest U.S. cryptocurrency exchange, and the global market price. In particular, as of 00:00 on the 3rd, this figure recorded -0.2116%. This means that the current price of Bitcoin traded on Coinbase is formed about 0.2116% cheaper than the global average market price. The index dropping into negative territory (discount) like this indicates that Bitcoin buying pressure has noticeably weakened recently, centered around the U.S. market.