Bittrex Global’s imminent closure has led to Bitcoin (BTC) trading at a substantial premium exceeding $10,000, data from its website shows.

The exchange’s BTC/US Dollar pair surged to $46,300 before retracing to $44,613 as of press time, significantly surpassing the current average price of $36,450 on major platforms like Binance and Coinbase.

Data from Tradingview further shows that BTC trades on Bittrex Global had slightly diverged all year but have become more prominent during the past day.

This premium trend extends to its Ethereum (ETH) pairing with the U.S. Dollar. The ETH/USD pair on Bittrex Global trades for over $2,400, notably higher than the $2,038 rate on other exchanges.

Interestingly, these asset pairings with stablecoins like USDT don’t reflect this premium and are trading at regular prices.

Data shows that the firm’s BTC/USD and ETH/USD trading pairs recorded around $4 million worth of trades during the past day.

What is causing the premium trades?

This premium pricing on Bittrex Global may indicate users’ attempts to shift their assets into the leading digital assets for withdrawal, as the exchange already informed users of the discontinuation o

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Author: Oluwapelumi Adejumo

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