🇺🇸 US BITCOIN BUYERS ARE STILL STAYING ON THE SIDELINES The Coinbase Bitcoin Premium Index has remained negative for 38 consecutive days, reaching -0.2434% on October 31. This means BTC is trading at a discount on Coinbase compared with Binance, pointing to weaker relative buying demand on one of the major US trading platforms. The timing is worth watching. Bitcoin has already faced weak spot demand throughout October, and this prolonged discount suggests US buying pressure has yet to make a meaningful comeback. If the trend continues, it could make it harder for BTC to build a strong recovery, especially if global demand also starts fading. However, a negative premium doesn’t mean every US investor is selling. It measures the price difference between exchanges, not total investor activity. The signal traders want to see is a sustained return to positive territory. That could indicate US spot demand is finally picking up again. #BTC Price Analysis# #Macro Insights# $BTC $LSK