The US Commodity Futures Trading Commission (CFTC) has launched an initiative to allow spot crypto trading on exchanges registered under it.
“There is a clear and simple solution the CFTC can implement now,” noted Pham. “The Commodity Exchange Act currently requires that retail trading of commodities with leverage, margin, or financing must be conducted on a DCM.” The regulator has invited stakeholders for feedback on how spot crypto contracts can be listed on registered futures exchanges under the current rules.
The Coinbase Premium Gap is an indicator that measures the difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair). Since the former is the preferred platform of large US-based investors, the metric is often considered a reflection of how the behavior of these whales differs from the rest of the market.
The indicator turning negative suggests that higher selling pressure or lower buying pressure has brought BTC down on Coinbase relative to Binance. Though while the metric was red earlier, it has now returned to the positive region, as CryptoQuant author IT Tech has pointed out in an X post.
The analyst explains that the trend is “a good sign that demand is picking up again in the US market, especially from institutions and big players.”
Bitcoin recovered to $115,700 on Monday, but it appears the coin has seen a setback as its price is back at $114,000.
