COINOTAG News reported on January 2nd that CryptoQuant analyst Burakkesmeci has highlighted a notable decrease in the Coinbase Premium Index, a metric that gauges U.S. Bitcoin retail demand. The index plummeted to a new 12-month low, indicating heightened selling pressure in the U.S. market, which may challenge the short-term price rebound for Bitcoin. As of December 31, 2024, the index registered a troubling figure of -0.23, a downturn attributed to impaired liquidity prevalent in the year-end trading environment. This level has not been seen since January 2024, when the U.S. introduced a Bitcoin spot exchange-traded fund (ETF). Analysts are now closely monitoring these developments, as sustained pressure could further complicate recovery efforts in Bitcoin’s price trajectory.
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