The cryptocurrency market is on alert following new data from CryptoQuant showing a change in the Coinbase premium for Bitcoin. This situation indicates a potential decline in demand from US investors.
Negative Coinbase Premium for Bitcoin
For the past 60 days, Bitcoin has been trading at a higher price on Coinbase compared to Binance. This usually indicates strong interest from US investors, especially large institutions. However, now for the first time since late May, this premium has flipped: Bitcoin is cheaper on Coinbase than on Binance. This change suggests that demand from the US is slowing down.
Weak US Demand and Its Implications
Experts at CryptoQuant warn that the drop in US interest might lead to short-term price pressure. In the past, similar negative shifts were associated with US traders becoming cautious. Additionally, Bitcoin ETF inflows have also slowed down in recent weeks, indicating that investor interest from the US may be cooling off.
Neutral Coinbase Premium for Ethereum
According to CryptoQuant's data, the Coinbase premium for Ethereum is now neutral, which also suggests that US investors are no longer eager buyers. The shift indicator shows that the Ethereum price may slide toward $3,750 to $3,800. However, if the premium turns positive again soon, it could signal a return of US buyers, potentially helping to push prices back up.
Recent changes in the premiums on Coinbase for Bitcoin and Ethereum highlight potential trends of declining interest from US investors. This situation may have a significant impact on short-term price dynamics.
