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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Spot Versus Tether Exchanges: Can Bitcoin Price Itself Be a Buy or Sell Signal

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read
bitcoin price buy sell signal

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Could the price difference between Bitcoin price on spot platforms like Coinbase and Tether-based platforms like Binance offer investors insight into if the crypto asset is currently a buy or a sell?

Data from past price action suggests its possible, and could even be an accurate signal for traders to follow.

Bitcoin Price Buy and Sell Signals Based on Exchange Spread

Throughout Bitcoin’s recent transition from bear market into bull market, then back into bearish price action, the market has moved in strange, unexpected ways. For example, despite the crypto asset’s continued downtrend, it also experienced the third-largest single-day gain in its young, decade-long history, skyrocketing from $7,400 to $10,500 in a little over 24 hours.

It’s caused traders and analysts alike to consider every metric, every data point possible, as a way to attempt to predict future price movements in Bitcoin, as unpredictable as they may be.

Traders have reviewed everything from the crypto asset’s hash rate, scarcity, inflows and outflows. Nearly every possible data point has been heavily scrutinized by dozens of investors and analysts trying to crack Bitcoin’s peculiar code.

However, the answer could be in Bitcoin price itself – specifically in the discrepancy between the price of the leading cryptocurrency by market cap on spot exchanges such as Coinbase or Gemini, versus the price per BTC on Tether-based crypto exchanges like industry-leader Binance.

Binance relies on base Bitcoin pairs with USDT, versus proper fiat USD like Coinbase and others do. And there could be clues to market behavior depending on the ebb and flow of the gap that rises and falls between the two types of crypto trading pairs.

Data suggests, that spot Bitcoin prices often exceed the price of USDT trading activity during bullish movements, and the inverse is for bearish price movements.

In the below example, Bitcoin reached a low of $9107 on Coinbase and a low of $9159 on Binance on July 28, 2019, representing a roughly $50 spread in favor of the Tether-based pair. Just four days later, the spread between the two had shrunken to just a $9 difference as price action became more and more bullish.

As the bullish price action continued, so did the rise in BTC/USD prices over BTC/USDT prices, and just prior to the final spike upward, the discrepancy finally leaned in favor of the price on Coinbase being higher than Binance, reaching $11,000 while Binance lingered at $10,926 for a nearly $75 discrepancy.

According to the data, it would suggest that as the gap between Coinbase and Binance shrunk, the stronger the buy signal in Bitcoin.

The opposite can also be seen to be true. In the below example of bearish price action, following the China news pump that led to historic gains, Bitcoin made another attempt to break out higher but stopped at a peak of $9597 on Coinbase, and at the same time, $9524 on Binance, representing yet another $75 gap between the two, showing that buyers were still bullish at Bitcoin’s local top.

As the Bitcoin price action turned bearish, however, the gap eventually diminished, then grew again, next time favoring Binance.

The idea is that when new money and actual buying begins, it’s driven by USD coming in from spot-based crypto exchanges like Coinbase, whereas any price action on Binance and USDT-based platforms, is simply crypto capital waiting on the sidelines to trade.

The difference between the two behaviors can be easily spotted by watching for discrepancies in the prices of the two platforms. However, any information provided is simply for informational purposes, could be coincidental and should not be considered investment advice.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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