Bitcoin Coinbase Premium hits 4-month high as 550K BTC leaves exchanges

Key Points

  • Coinbase Premium Hits 4-Month High: The Coinbase Premium metric, indicating US demand for Bitcoin, reached its highest level since February at $109.55 on June 6.**
  • Positive Market Outlook: Analysis from CryptoQuant suggests no signs of market overheating, predicting optimistic trends for Bitcoin through the end of 2025.**
  • Declining Exchange Reserves: Spot exchanges have seen a reduction of 550,000 BTC in reserves since July 2024, reflecting a trend of investors holding rather than selling.**
  • US Buying Surge: There is a notable increase in Bitcoin buying from US consumers, seen as a key tailwind for 2025.**
  • Institutional Demand Returns: US institutional interest rebounds after a brief dip, with BlackRock’s iShares Bitcoin Trust becoming the fastest ETF to hit $70 billion in assets.**

Summary

Bitcoin is experiencing a significant resurgence in US demand, as evidenced by the Coinbase Premium metric reaching a 4-month high of $109.55 on June 6, according to CryptoQuant data. This metric, which compares Bitcoin prices on Coinbase and Binance, highlights strong buyer appetite in the US. Despite a recent 6% price pullback, the rising premium suggests investors view dips as buying opportunities. CryptoQuant analysis indicates no signs of market overheating, forecasting positive trends through 2025. Meanwhile, spot exchange reserves have dropped by 550,000 BTC since July 2024, signaling a shift toward long-term holding among investors. This trend, coupled with returning institutional demand—exemplified by BlackRock’s iShares Bitcoin Trust hitting $70 billion in assets—underpins Bitcoin’s price strength. As BTC approaches $110,000, the combination of reduced exchange supply and sustained US interest paints an optimistic picture for the cryptocurrency market in the coming months.

cointelegraph
June 10, 2025
Crypto
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