After the Spot Bitcoin ETF applications, Bitcoin, which rose above $ 31,000, could not continue its rise and continues its horizontal movements at the level of $ 30,000 in recent weeks.
However, the BTC price is not the same on every exchange. Because the US arm of Binance, Binance.US, BTC and Ethereum prices are trading at a lower price. At this point, a wide price gap has formed between Bitcoin and Ethereum prices and global spot prices.
While this is collectively referred to as the “Crypto depeg”, BTC and ETH are trading at $27,700 and $1,710, with roughly $2300 and $150 off, respectively.
While the reduction in the price of Bitcoin and Ethereum may seem attractive to investors who want to take advantage of the arbitrage opportunity, which means buying low on one exchange and selling higher on another, most investors will not be able to take advantage of them.
Because after the SEC's lawsuit against Binance and Binance US, Binance US suspended dollar transactions in June. This prevents investors from buying BTC and ETH at discounted prices.
Because users have not been able to deposit new USD on the platform since June 9, when USD deposits were suspended. This means that only traders with USD before June 9 can buy Bitcoin and Etheruem.
In this context, only those who have USD on Binance.US will be able to benefit from these discounted prices.
Experts think that this situation in Binance.US is due to concerns that the stock market will stop withdrawing dollars in the near future.
At this point, it is thought that after the news that Binance US will stop its withdrawals in the near future, it caused BTC and ETH to be traded below its value.
Because it is stated in the e-mail sent by Binance.US to its customers that it will end the withdrawals of dollars after July 20.
*Not investment advice
