Market News

US Bitcoin Demand Weakens as Coinbase Struggles to Stabilize Market

Bitcoin's recent downturn is indicative of alarming trends in US spot demand, with the cryptocurrency slipping below the critical $80,000 support level for the first time since April 2025.

According to a CryptoQuant report, this decline is accompanied by a persistent negative Coinbase Premium, signaling a noticeable absence of buying interest from US investors.

In earlier phases of 2025, negative premiums were short-lived, reflecting tactical selling rather than a systemic lack of demand; however, today's patterns suggest a troubling shift.

The current depth and persistence of negative premiums indicate that US spot buyers are not present to absorb Bitcoin's price drops, raising concerns about further downside risk.

Coinbase's recent launch of new altcoins, DeepBook and Walrus, does not seem to alleviate the broader bearish sentiment impacting Bitcoin and the market.

Additionally, Bitcoin is now trading below its 50-week moving average, historically a supportive trend line, which has started to rollover—adding to the bearish outlook.

Selling activity is reportedly accompanied by high volume, reinforcing the idea that the market is entering a distribution phase rather than merely consolidating.

Until there is a significant rebound in the Coinbase Premium, the market outlook remains fragile, with Bitcoin set to face continued pressure.

Coinbase's offerings may attract interest as the market looks for recovery signs, but potential investors should remain cautious until further confirmations are made.

In the grand scheme, the current state of US spot demand illustrates a crucial period for Bitcoin while underlining the need for careful monitoring of market behaviors.