$BTC just had its best week since March, but one indicator is still flashing a warning.


The Coinbase Premium, which tracks buying pressure specifically from U.S. exchanges, has now logged a negative streak for 50 straight days.
Translation: Even with the price climbing, American demand hasn't caught up yet. Much of this rally appears to be driven by short covering and rate expectations rather than by fresh U.S. buyers stepping in.
That doesn't mean the rally is fake. It means the foundation under it is thinner than the headline number suggests.
Good rallies and fragile rallies can look identical for a while, and the data underneath is usually what tells them apart.
BTC-1.61%
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