US BTC activity shows signs of weakness as demand diverges

Demand for BTC is diverging, with signs of weakening US activity. While Binance remains a venue for whales, the Coinbase premium points to weakening US interest. US demand for BTC, as measured by the Coinbase premium, is at the lowest level since July. The negative price differential is at 0.19%, a small disparity but a signal that US traders are showing lowered demand. The Coinbase premium index turned more negative in October, as BTC moved in a range between $80,000 and $85,000.

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