Bitcoin’s historic 94-day buying streak on Coinbase has come to an abrupt halt, signaling a potential shift in U.S. investor sentiment. This development raises critical questions about Bitcoin’s near-term trajectory—is this just a pause or the start of a deeper correction?
Bitcoin News: The End of an Era for Coinbase Buying Streak
For 94 consecutive days, Bitcoin enjoyed unprecedented buying pressure on Coinbase—the longest streak ever recorded. This relentless demand helped propel Bitcoin past $100,000. However, the streak’s collapse now suggests weakening U.S. interest, with two key metrics confirming the shift:
- The Coinbase Premium Gap (Bitcoin’s price premium on Coinbase vs. other exchanges) has turned negative
- The Taker Buy/Sell Ratio has dropped below 1 (currently at 0.981), indicating sell-side dominance
What Does the Negative Premium Gap Reveal About U.S. Investors?
The negative premium gap is particularly telling—it suggests cooling institutional and retail demand in the U.S. market. Historically, when Coinbase (a U.S.-dominated exchange) shows weaker demand compared to global exchanges, it often precedes short-term price weakness.
Taker Buy/Sell Ratio Dips Below 1: Should Traders Worry?
The taker buy/sell ratio’s drop to 0.981 marks two consecutive days of sell pressure outweighing buys. This metric measures immediate market sentiment, and its decline suggests traders are taking profits rather than accumulating.
Contrasting Signals: Whales vs. Retail Behavior
While some indicators show weakness, others suggest underlying strength:
| Group | Activity | Implication |
|---|---|---|
| Whales (1K-10K BTC) | -63.27K BTC withdrawn | Reduced exchange deposits |
| Mega Whales | -19.6K BTC withdrawn | Increased self-custody |
| Retail | -442.8 BTC net outflow | Highest outflow in months |
Bitcoin Price Outlook: Consolidation or Correction?
Bitcoin currently consolidates between $115,000-$120,000. Key levels to watch:
- Support: $112,000 if U.S. demand continues fading
- Resistance: $120,000 needs to hold for bullish continuation
The market stands at a crossroads—will global demand compensate for U.S. weakness, or is this the start of a broader pullback? On-chain metrics will provide crucial clues in coming weeks.
Frequently Asked Questions
Q: How significant is the end of the 94-day Coinbase buying streak?
A: Extremely significant—it was the longest streak ever recorded and coincided with Bitcoin’s rally past $100K.
Q: Does the negative premium gap mean Bitcoin will crash?
A: Not necessarily—it indicates U.S. weakness, but global demand could compensate.
Q: Why are whales withdrawing BTC from exchanges?
A: Typically signals long-term holding intentions rather than imminent selling.
Q: What’s the most reliable indicator to watch now?
A: The $112,000 support level—if broken, could signal deeper correction.
