Despite $BTC ’s recent surge, U.S. markets stay out of it
Recently, the price of Bitcoin has surged significantly, once rebounding to $64,000, which has increased the valuation of the global cryptocurrency market to more than $60 billion and rekindled investor optimism. However, it is worth noting that in this Bitcoin rebound feast, the U.S. market has shown an attitude of staying away.
The U.S. cryptocurrency market, represented by Coinbase, has not actively participated in this Bitcoin rebound. Judging from relevant indicators, Coinbase Premium even fell into negative territory. This phenomenon has triggered market concerns about the sustainability of this Bitcoin rebound.
The U.S. market really hasn’t played an active role in this Bitcoin rally. Some people believe that Bitcoin’s rebound may be attributed to the inflow of Asian capital. For example, China's interest rate cuts may prompt some funds to seek new investment channels, thereby driving up the price of Bitcoin.
Judging from the open interest of Bitcoin and related data, the volume of open interest has shown a downward trend, which shows that traders are not optimistic about the future trend of Bitcoin in the short term. At the same time, Bitcoin active address data shows that retail interest showed a trend of first declining and then rising. Although there is currently a slight recovery, from the short-term perspective, it still faces many challenges.
Since the United States occupies an important position in the global financial market, the attitude of its cryptocurrency market often has an important impact on the trend of Bitcoin. The absence of the U.S. market this time may put Bitcoin's rebound at certain risks, and its sustainability has also been questioned.
In summary, despite the recent surge in Bitcoin prices, the absence of the U.S. market has added a lot of uncertainty to this rebound. Investors need to pay close attention to market dynamics and make investment decisions cautiously.
