Bitcoin News: 94-Day Coinbase Buying Streak Collapses as Premium Gap Turns Negative – What’s Next?
Bitcoin’s historic 94-day buying streak on Coinbase has come to an abrupt halt, signaling a potential shift in U.S. investor sentiment. The longest recorded buying spree, which previously propelled Bitcoin past $100,000, has now collapsed—raising critical questions about the market’s next move. With the Coinbase premium gap turning negative and the taker buy/sell ratio dipping below 1, is this a temporary pause or the start of a deeper correction?
Bitcoin News: The End of a Record-Breaking Buying Streak
For 94 consecutive days, Bitcoin enjoyed unprecedented demand on Coinbase, fueling its rally beyond $100,000. However, this streak has now ended, marking a pivotal moment for the cryptocurrency. The Coinbase premium gap—a key indicator of U.S. institutional and retail interest—has turned negative, suggesting weakening demand. Analysts are closely watching whether this signals a broader market plateau.
What Does the Taker Buy/Sell Ratio Reveal?
The taker buy/sell ratio, a measure of immediate market pressure, has fallen to 0.981 for two straight days, indicating sell-side dominance. This shift aligns with long-term holders distributing over 133,000 BTC in three weeks. While this suggests profit-taking rather than panic, it underscores growing uncertainty among investors.
U.S. Investor Shift: Who’s Still Buying Bitcoin?
Despite the downturn, not all participants are retreating. Key on-chain data reveals:
- Whale holdings (1K–10K BTC) dropped by -63.27K BTC, signaling reduced exchange deposits.
- Mega-whale balances declined by -19.6K BTC, indicating a move toward self-custody.
- Retail outflows surged to -442.8 BTC, the highest in months.
Historically, such accumulation patterns have preceded price rebounds, hinting that underlying demand may still be strong.
Bitcoin Price Analysis: Consolidation or Correction Ahead?
Bitcoin is currently trading between $115,000 and $120,000, with buyers absorbing short-term supply. A breakdown below this range could see prices slide to $112,000 if U.S. demand continues to fade. The divergence between U.S. and global activity highlights a fragmented market, where regional dynamics are increasingly influential.
Conclusion: A Critical Juncture for Bitcoin
The end of Coinbase’s buying streak marks a turning point for Bitcoin. While U.S. investors show signs of retreat, whales and retail traders continue to accumulate, creating a mixed outlook. The coming weeks will determine whether this consolidation leads to a new bull phase or a broader correction. For now, on-chain metrics remain the best barometer of shifting sentiment.
Frequently Asked Questions (FAQs)
1. Why did Bitcoin’s Coinbase buying streak end?
The 94-day streak ended due to weakening U.S. investor demand, reflected in the negative premium gap and declining taker buy/sell ratio.
2. What does a taker buy/sell ratio below 1 mean?
A ratio below 1 (currently 0.981) indicates sell-side dominance, suggesting more traders are executing sell orders than buys.
3. Are whales still accumulating Bitcoin?
Yes, on-chain data shows whales are withdrawing BTC from exchanges, signaling long-term accumulation despite the price dip.
4. Could Bitcoin drop below $100,000 again?
If the $115,000 support breaks and U.S. demand weakens further, a retest of $112,000—or lower—is possible.
5. Is this a good time to buy Bitcoin?
While the market is uncertain, accumulation by whales and retail traders suggests confidence in Bitcoin’s long-term value.
