BTC news: U.S. demand turns negative for a record 40 days as "bitcoin zero" searches peak
U.S. Bitcoin demand, measured by the Coinbase Premium Index, has been negative for a record 40 days, signaling persistent lack of American buying.Summary
The Coinbase Bitcoin Premium Index, a proxy for U.S. institutional and dollar-denominated flows, has registered a negative reading for 40 consecutive days, marking the longest streak since 2023. This indicates that American investors are consistently paying less for Bitcoin than the global market average, suggesting aggressive selling or a lack of participation.
Although Bitcoin recovered significantly after the February 5 crash, the premium did not follow, unlike in previous drawdowns. This divergence implies that the buying driving the price recovery above $62,000 originated outside U.S. hours or Coinbase's order books. The premium has improved slightly from its low of -0.22% to -0.0467%, but this gradual narrowing is not fast enough to turn positive, a level historically associated with sustained accumulation.
Further evidence of waning U.S. conviction comes from Google searches, where queries for "bitcoin zero" in the U.S. hit record highs, while global interest remained flat, pointing to specific American investor doubt.
(Source：CoinDesk)