Bitcoin demand in the United States is showing a worrying trend. The Coinbase Premium Index, which reflects demand on the Coinbase exchange, is showing a decline despite Bitcoin's price rising from $94K to $106K in the past two weeks.

This decline comes amid the launch of a Bitcoin ETF in January 2024 and the upcoming US presidential election, signaling a potential weakness in the medium-term upward momentum.

Investors are advised to exercise caution and monitor these developments closely. Nonetheless, optimism about Bitcoin remains, given its important role in future investment portfolios.