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Breaking News: Circle (CRCL) Crashes Below $100 After Senate Revises Crypto Bill To Ban Stablecoin Rewards
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Breaking News: Circle (CRCL) Crashes Below $100 After Senate Revises Crypto Bill To Ban Stablecoin Rewards

Ethereum Rebounds 6%, But Coinbase Demand Remains Weak

Keshav Verma
Keshav Verma
Last Updated: March 25, 2026 12:00 am
3 mins read
Ethereum

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Data shows the Ethereum Coinbase Premium Index has stayed inside the negative territory even as the price has climbed back above $2,100.

Ethereum Coinbase Premium Index Is Red Right Now

As pointed out by Arab Chain in a CryptoQuant Quicktake post, the Coinbase Premium Index has been in the red zone for Ethereum recently. This indicator keeps track of the percentage difference between the ETH price listed on Coinbase (USD pair) and that on Binance (USDT pair).

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Below is a chart that shows the trend in the Ethereum Coinbase Premium Index over the past month.

Ethereum Coinbase Premium Index
The value of the metric seems to have been negative in recent days | Source: CryptoQuant

As is visible in the graph, the Ethereum Coinbase Premium Index has dropped into the negative region in the last few days, indicating BTC has been trading at a lower rate on Coinbase as compared to Binance. In other words, users of the former have been applying a higher selling pressure than that of the latter.

Initially, the decline in the indicator came as the asset observed a retrace from last week’s highs. The timing would suggest that Coinbase traders led the price drawdown. But interestingly, while the Coinbase Premium Index has remained at a value of -0.0149 during the past day, ETH’s price has actually seen a rebound back above the $2,100 level.

The trend could be a sign that Binance investors have helped provide the fuel for the surge. If the Coinbase Premium Index stays red in the coming days, however, it’s possible that the move could run out of momentum. This is because, in recent times, American institutional entities, which use Coinbase as their preferred platform, have tended to be the drivers in the cryptocurrency sector.

Whenever demand from these investors is lacking, Ethereum and other major tokens like Bitcoin tend to suffer. So far, the rebound hasn’t been able to ignite interest among the US-based whales, so it only remains to be seen whether things will change as the rally unfolds.

The Coinbase Premium Index only tells a short-term story of the market. From a more long-term view, Ethereum’s rebound from $1,800 over the past month occurred after a retest of a significant level in the Market Value to Realized Value (MVRV) Ratio, as analyst Ali Martinez has highlighted in an X post.

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The MVRV Ratio basically tells us about the profit-loss situation of the ETH investors as a whole. As shown in the below chart, the Ethereum MVRV Ratio plunged below 1.0 during this year’s drawdown, implying that the overall network entered into a state of loss.

Ethereum MVRV Ratio
How the ETH MVRV Ratio has fluctuated over the last few years | Source: @alicharts on X

The metric ended up going down to the 0.8 level, which has often acted as a low point for the cryptocurrency in the past. “Historically, this is a ‘Generational Buy’ zone,” noted the analyst. Since this retest, ETH has observed its rebound.

ETH Price

At the time of writing, Ethereum is trading around $2,160, down 7% over the past week.

Ethereum Price Chart
The trend in the price of the coin over the last five days | Source: ETHUSDT on TradingView
Featured image from Dall-E, chart from TradingView.com
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Read more

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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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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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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