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Bitcoin Weakens as Fed Holds Rate, Coinbase Premium Sinks to -0.11

GateNews
On-Chain DataCapital FlowMarket AnalysisMonetary PolicyStocks
BTC0.90%

According to CryptoQuant analyst Novaque Research, the Federal Reserve maintained rates at 3.50%-3.75% on July 29, but the decision failed to provide liquidity stimulus for bitcoin. The Coinbase premium index remains deeply negative at approximately -0.11, indicating weak U.S. spot demand as bitcoin trades at a discount to offshore platforms.

Exchange reserves have risen to approximately 2.72 million BTC since April lows, increasing available supply for potential selling pressure amid the subdued demand environment.

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