Bitcoin Surges to Nearly Two-Month High Above $95,000 as U.S. Demand Remains Weak
Bitcoin prices recorded a strong rally, reaching their highest level in nearly two months and surpassing the $95,000 mark. However, market indicators suggest that the current buying momentum is largely driven by non-U.S. investors, amid a noticeable slowdown in demand from the United States.
Market data shows that the Coinbase Premium Index—which measures the price difference of Bitcoin between the U.S.-based Coinbase exchange and the global Binance platform—remains in negative territory. This indicates that Bitcoin is trading at a lower price on Coinbase compared to international markets, reflecting selling pressure or weaker interest from U.S. investors relative to their global counterparts.
The index is widely regarded as a key gauge of American investor behavior. A negative reading typically signals declining domestic demand or capital outflows from the U.S. market, even during periods of global price appreciation.
Historically, U.S. demand has played a central role in driving major Bitcoin bull runs, particularly following positive regulatory developments over the past year. Current indicators, however, suggest that this influence is limited for now.
Market observers attribute the cautious stance of U.S. investors to anticipation surrounding pending digital asset regulations, including proposed legislation aimed at clarifying the legal framework for cryptocurrencies. Any legislative progress is expected to boost investor confidence and potentially reignite U.S. demand.