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US Bitcoin Demand Declines as Coinbase Premium Index Stays Negative for 40 Days

Recent data shows that Bitcoin's demand from U.S. investors has turned negative for an unprecedented 40 consecutive days.

The Coinbase Bitcoin Premium Index, which tracks the price difference between Bitcoin on Coinbase and the global market average, is currently at -0.0467%.

This persistent negative reading suggests that American buyers are either aggressively selling or showing lower engagement compared to their global counterparts.

Historically, a negative premium indicates a lack of sustained buying from U.S. institutional investors.

Despite a recent price recovery of about 15% since Bitcoin's low on February 5, the premium did not improve, indicating a divergence in demand.

The previous record for consecutive negative readings stood at about 30 days during the October 2025 drawdown.

Notably, Google searches for "bitcoin zero" surged in the U.S., signaling a waning conviction among American investors.

While the premium is gradually less negative, moving from -0.22% to -0.05%, it still remains far from the positive threshold that typically signals accumulation.

Experts suggest that the current environment may be more frustrating due to time rather than price, as Bitcoin has mostly been de-risked.

As the market watches closely, the focus is on whether U.S. demand will rebound or continue to stagnate in the coming days.