- It appears the Coinbase Premium Index has decided to play nice, remaining in the positive for three weeks, which, if I may say, is a rather splendid indication of robust U.S. demand for Bitcoin.
- Should this accumulation continue, we might just see BTC break through the $110K ceiling and transform it into a cozy support level—if not, brace yourself for a cheeky pullback to $106,204.
In a rather thrilling turn of events for 2025, the Coinbase Premium Index has managed to stay in the positive for three consecutive weeks. According to the ever-reliable Alphractal, this suggests that U.S. investors have returned to the market, wallets at the ready, eager to snap up some BTC.
U.S. Investor Demand Fuels Bitcoin’s Recent Rally
When BTC is trading at a premium on Coinbase, it’s a clear sign that American buyers are back in the game, and this time, they’re not just dipping their toes—they’re diving in headfirst!
The demand for Bitcoin is positively booming, with everyone from the grandest of whales to the tiniest of traders clamoring for a piece of the action.
To kick things off, whale activity has surged like a well-timed punchline. According to the ever-watchful Glassnode, since a slight dip in late April, the number of Bitcoin whales clutching at least 1,000 BTC has begun to rise once more.
In the midst of this delightful upswing, whale wallets have ballooned to a staggering 1,455 entities as the price hit a new all-time high. It seems our aquatic friends are quite keen on accumulating BTC, even amidst the recent rally.
Smaller Buyers Are Not Far Behind
Retail participation has been mirroring the whales’ behavior, which is rather amusing, if you think about it.
This is evidenced by the Taker Buy Sell Ratio on CryptoQuant turning positive once again, indicating that more market takers are executing buy orders than sell orders. Quite the turn of events, wouldn’t you agree?
In short, demand is broad, not just top-heavy—like a well-balanced breakfast!
This delightful accumulation from both large and small wallets has made Bitcoin even more scarce, which is rather like finding a rare vintage wine in a sea of plonk.
Bitcoin’s Stock-to-Flow Ratio has surged over the past day from 41k BTC to 45k BTC, marking a 4k increase in scarcity. A rising scarcity often precedes a price rise, much like a good joke precedes a hearty laugh.
What’s Next for BTC?
It’s clear that Coinbase is experiencing a delightful surge in activity from both large and small holders, reflecting the overall market conditions, with whales and retailers alike turning to Bitcoin accumulation.
Despite some market jitters after a whopping $150 million worth of BTC was moved through Coinbase, the overall sentiment among U.S. investors remains as bullish as a prize-winning bull at a county fair.
This could be because those BTCs transferred by whales into Coinbase were not sold, but rather, the whales were simply repositioning themselves—like a game of musical chairs, but with more zeros involved.
If this accumulation trend continues, Bitcoin could very well revisit the $110K mark for the fourth time. This time, if the price holds above that level, it may finally flip into strong support, paving the way for a breakout to new heights.
However, should whale transfers turn into selling, BTC could face a swift correction down to $106,204. And we all know how much fun corrections can be—like a surprise visit from Aunt Agatha!
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2025-05-29 00:11