Bitcoin rebounds toward $79K – Can BTC keep climbing without US buyers?

Bitcoin’s [BTC] latest recovery is struggling to attract stronger participation from U.S. buyers, leaving an important source of market demand largely absent. The Coinbase premium index measures the difference between the price on Coinbase and Binance. As such, its extended period of time being in the negative direction clearly illustrates that the U.S. has continued to exert selling pressure against the amount of demand from U.S. buyers. Notably, the index did show a negative reading even at a point when Bitcoin was rising toward $87,000 in September. This implies that there were other regions of the world supporting price appreciation at that time. If this trend persists, it could cap the size of Bitcoin's next advance. As a result, it could limit recovery strength and expose Bitcoin to further selling.

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