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BTC Spot Demand Still Looks Weak
$BTC may be pushing higher, but the Coinbase Premium continues to stay deeply negative, which is raising concerns about the strength of this move.
Even during the recent rally, the premium only briefly turned slightly positive before fading again. This suggests the upside was likely driven more by leveraged perp activity rather than strong spot buying.
Historically, sustainable rallies are usually backed by healthy spot demand. Without that confirmation, the current move starts looking far less convincing and could open the door for further downside if buyers don’t step back in soon.
#Blazx #BTC #Bitcoin