- The Coinbase Premium Index remained positive for three weeks, which indicates a strong American demand for Bitcoin.
- If the accumulation continues, BTC can break $ 110k and turn it into support – Failing that, a pullback to $ 106,204 is probably.
For the first time in 2025, the Coinbase Premium Index was held within a positive area for three consecutive weeks. According to AlfractalThis indicated that the American investors are back on the market and buy BTC.
American investor asks Bitcoin Bitcoin’s recent meeting
Source: Alfractaal
When BTC trades a premium on Coinbase, this reflects a stronger purchase interest from American participants, and this time they are fully in force again.
Source: Glassnode
This demand for Bitcoin is currently strong for all market participants, from whales to small traders.
To begin with, whale activity has risen during this period. According to Glassnode, since falling at the end of April, the number of Bitcoin -Walvissen with at least 1,000 BTC began to climb again.
In the midst of this Upswing, whale portfolios rose and reached 1,455 entities as the prize hit a new ATH. This suggests that whales collect BTC aggressively despite the recent rally.
Source: Cryptuquant
Smaller buyers are not far behind
Retail participation has reflected whale behavior.
This is evident from the fact that the Taker Buy Sell Ratio on Cryptoquant became positive again, indicating that more market persons carried out buy orders than sales orders.
In short, the question was wide, not just top heavy.
Source: Cryptuquant
Bitcoin has seen this accumulation of large portfolios and small portfolios.
Bitcoin’s stock-flow ratio rose from 41k BTC to 45k BTC last day. This meant a 4K increase of Bitcoin’s scarcity.
A rising scarcity reflects strong accumulation, with less BTC available for immediate sale. Often a higher scarcity precedes an increase in prices if demand increases or even remains constant.
What is the next step for BTC?
Coinbase undoubtedly has an increase in the activity of both large and small holders. This reflects the total market conditions, whereby whales and retailers all turn to Bitcoin accumulation.
Although the market shared concern after $ 150 million in BTC was moved by Coinbase, the general feelings among American investors Bullish remain.
This could probably be because these BTCs transmitted by whales to Coinbase were not sold, but whales repositioned themselves.
If this accumulation trend continues, Bitcoin could view $ 110k for the fourth time. This time, if the price applies to that level, it can finally turn into strong support and release the road for an outbreak to new highlights.
However, if whale transfers are sold, BTC can get a quick correction of up to $ 106,204.