Bitcoin News Today: Bitcoin 94-Day Coinbase Buying Streak Ends Premium Gap Turns Negative Taker Buy Sell Ratio 0.981 Signal U.S. Investor Shift

Bitcoin’s 94-day buying streak on Coinbase has ended, marking a significant shift in U.S. investor sentiment. The streak, the longest on record, had driven Bitcoin’s previous rally past $100,000, but its collapse now signals weakening demand. The Coinbase Premium Gap—the price premium of Bitcoin on Coinbase relative to other exchanges—has turned negative, a key indicator of cooling institutional and retail interest in the U.S. market [1]. This development raises questions about whether the broader bull trend has reached a plateau or if it is a temporary pause.

The breakdown is reflected in on-chain metrics. The Taker Buy/Sell Ratio, which measures immediate buy vs. sell pressure on exchanges, has fallen below 1 for two consecutive days, currently at 0.981, indicating sell-side dominance [1]. Meanwhile, long-term holders have shifted to net distribution, offloading over 133,000 BTC in three weeks, according to Checkonchain data. Such selling often reflects strategic profit-taking rather than panic, suggesting holders are locking in gains amid uncertainty [1].

However, not all participants are retreating. Large holders and retail investors continue to show resilience. Checkonchain data reveals a -63.27K BTC drop in Whale 1K–10K BTC Exchange Balances, signaling reduced deposits and increased self-custody. Similarly, MegaWhale Exchange Balances declined by -19.6K BTC, highlighting a trend of whales withdrawing funds from exchanges [1]. Retail outflows also spiked, with a net exchange outflow of -442.8 BTC on July 29, the highest in recent months. Historically, such accumulation patterns by whales and retail investors have preceded price increases, suggesting underlying demand remains intact [1].

Bitcoin’s price action reflects this tug-of-war between selling pressure and lingering bullish momentum. AMBCrypto analysis notes the asset is consolidating between $115,000 and $120,000, with buyers absorbing short-term supply. A breakdown of this range could see further declines to $112,000 if U.S. demand continues to wane and global buyer participation slows [1]. The divergence between U.S. and non-U.S. activity underscores a fragmented market, where regional dynamics increasingly shape Bitcoin’s trajectory.

The ending of the Coinbase streak underscores a critical juncture for Bitcoin. While U.S. investors retreat, other market participants remain active, creating a mixed picture of near-term direction. Analysts will closely watch whether the current consolidation resolves into a new bull phase or signals the start of a broader correction. For now, the focus remains on institutional and retail behavior, with on-chain data serving as a barometer of shifting sentiment.

Source: [1] Bitcoin: 94-day Coinbase buying streak snaps: Are U.S. bulls losing steam? (https://ambcrypto.com/bitcoin-94-day-coinbase-buying-streak-snaps-are-u-s-bulls-losing-steam/)