BlockBeats news, on January 2, CryptoQuant analyst Burakkesmeci stated in a report that 'the increasing selling pressure in the U.S. market has significantly impacted the Coinbase premium index, dragging it to a new low in 12 months.'
The Coinbase premium index — an indicator used to measure U.S. Bitcoin retail demand — fell to its lowest point in 12 months by the end of 2024, and analysts warned that this could pose a challenge to the short-term recovery of Bitcoin prices.
On December 31, 2024, the index fell to a low of -0.23. Burakkesmeci attributed this to 'the low liquidity in the year-end market.'
The last time the index reached this level was in January 2024, when the United States launched a spot Bitcoin exchange-traded fund (ETF). (Cointelegraph)
