Bitcoin Demand Accelerates, Coinbase Premium Reaches Multi-Month High

The Coinbase Premium index, a gauge signaling the demand for Bitcoin from US buyers, has reached its highest level since February, coinciding with a reported “surge in buying” from US consumers and a noted downtick in macro uncertainty.

Tracking US Appetite

The Premium index measures the price difference between Coinbase’s BTC/USD and Binance’s BTC/USDT. On June 6, 2025, it reached $109.55, the highest level since February 3. This signifies a strong US appetite, despite a ~6% pullback for Bitcoin since mid-May.

According to CryptoQuant data cited by Cointelegraph Markets & Research, this “steady growth” since May reflects robust demand from US-based investors.

“This positive movement… suggests optimistic movements in the cryptocurrency market in the second half of 2025,” noted Crypto Dan, a CryptoQuant contributor.

Declining Exchange Reserves Fuel Price Strength

Complementing the rising demand indicators, CryptoQuant highlights that Bitcoin’s spot exchange reserves have dropped by approximately 550,000 BTC over the last year, as of July 2024.

“Every rally is the result of unseen preparation,” stated CryptoQuant’s Baykuş. “People aren’t selling—they’re holding [for] the long term.”

Fellow CryptoQuant contributor Baykuş described this withdrawal as a significant catalyst, noting the correlation with the coin’s trajectory towards the $110,000 mark.

This decline followed BlackRock’s iShares Bitcoin Trust (IBIT) becoming the fastest ETF to reach $70 billion in assets under management.

While a reversal in US institutional demand due to BTC retesting $100,000 support was noted, the overall picture points towards sustained investor interest.

This article is not investment advice. Every investment involves risk. Conduct your own research before making any decision.