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

CoinFeed reported on March 9th that Matrixport analyzed 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 to around $60,000, the discount began to narrow and has now essentially returned to a neutral level. As we previously mentioned, this correction often signifies that most of the selling pressure has been gradually absorbed by the market, and Bitcoin's trading environment is expected to improve accordingly. Recent price movements seem to confirm this assessment.