According to CoinMeta, analysis indicates that the price difference between Coinbase and Binance for Bitcoin has expanded to its highest level of the year. Alex Thorn, the head of research at Galaxy, stated that the discount of Bitcoin on Coinbase relative to Binance’s USDT has reached its largest since the beginning of the year. Previously, Binance’s suspension of withdrawals limited cross-platform arbitrage activities, making it difficult for this price difference to accurately reflect the real demand signals of the US market. As Binance resumes withdrawals, it will be important to monitor whether the price difference between the two exchanges will gradually narrow in the future.