Bitcoin’s unprecedented 94-day buying streak on Coinbase has come to an abrupt halt, marking a pivotal moment for U.S. investors. This shift could signal a major change in market dynamics. Here’s what you need to know.
Bitcoin News: The End of a Historic Buying Streak
For 94 consecutive days, Bitcoin saw relentless buying pressure on Coinbase, driving prices past $100,000. However, this streak has now ended, raising questions about the sustainability of the rally. Key indicators suggest a cooling interest among U.S. investors.
Coinbase Premium Gap Turns Negative – A Warning Sign?
The Coinbase Premium Gap, which measures Bitcoin’s price premium on Coinbase compared to other exchanges, has turned negative. This often signals weakening institutional and retail demand in the U.S. market.
- Taker Buy/Sell Ratio drops to 0.981 – Sell pressure now outweighs buys.
- Long-term holders distributing BTC – Over 133,000 BTC sold in three weeks.
- Whale activity shifts – Large holders withdraw BTC from exchanges.
U.S. Investor Shift: What Does It Mean for Bitcoin?
While U.S. demand appears to be slowing, global participation remains mixed. Bitcoin is currently consolidating between $115,000 and $120,000, with buyers absorbing short-term supply. A breakdown below this range could lead to further declines.
Is This a Temporary Pause or the Start of a Correction?
Analysts are divided. Some see this as profit-taking by long-term holders, while others warn of a broader sentiment shift. The next few weeks will be critical in determining Bitcoin’s trajectory.
FAQs
What caused the end of Bitcoin’s 94-day Coinbase buying streak?
The streak ended due to weakening U.S. investor demand, reflected in the negative Coinbase Premium Gap and declining Taker Buy/Sell Ratio.
What does a negative Coinbase Premium Gap indicate?
It suggests that Bitcoin is trading at a discount on Coinbase compared to other exchanges, signaling reduced U.S. institutional and retail interest.
Are whales still accumulating Bitcoin?
Yes, data shows whales are withdrawing BTC from exchanges, indicating a preference for self-custody rather than selling.
Could Bitcoin’s price drop further?
If the $115,000 support breaks, Bitcoin could test $112,000, especially if global demand doesn’t compensate for the U.S. slowdown.
