US Investors’ Buying Interest Weakens! Bitcoin Falls Over 6% in the Past 24 Hours, Altcoins Experience Massive Pullback

US Investors' Buying Interest Weakens! Bitcoin Falls Over 6% in the Past 24 Hours, Altcoins Experience Massive Pullback

US Investors' Buying Interest Weakens! Bitcoin Falls Over 6% in the Past 24 Hours, Altcoins Experience Massive Pullback

According to data tracked by CryptoQuant, the 7-day moving average of Bitcoin’s Coinbase premium index (which calculates the price difference between Coinbase and Binance exchanges) has turned negative. This means that the buying power of Bitcoin by US investors is relatively weaker compared to the global market, which aligns with the recent trend of slowing inflows into Bitcoin spot ETFs. Analysts believe that if the inflows into Bitcoin spot ETFs continue to weaken, Bitcoin may further decline to $59,000.