Bitcoin, the leading asset in the cryptocurrency market, is maintaining a relatively strong stance despite geopolitical tensions in the Middle East and rising oil prices.
However, recent data suggests that the upward momentum may be weakening. The decline in demand, particularly from the US, is noteworthy.
Coinbase Premium, a key market indicator, has fallen to its lowest level in the past month. This suggests a relative decrease in interest in Bitcoin among US investors.
Coinbase Premium provides important signals about local demand by measuring whether prices on the US-based Coinbase exchange are trading at a premium compared to the global average.
To understand exactly what the index means in a very simple way, you can click here.
On the other hand, a slowdown is observed in inflows into spot Bitcoin ETFs, which are considered an indicator of institutional investor demand. Although a net inflow of $1.53 billion was recorded in March, reversing the previous outflow trend, it is stated that the pace of these inflows has decreased significantly in recent days.
Experts emphasize that for Bitcoin to re-enter a strong upward trend, both individual and institutional investor demand needs to increase more steadily and strongly. Otherwise, they state that sideways movement or short-term pullbacks may occur at current price levels.
According to the analysis, the direction of the market in the coming period will be shaped by macroeconomic developments, geopolitical risks, and the flow of investors.
*This is not investment advice.