🔍 Logic behind BTC pricing This BTC matter is not suitable for a breaking news format. On the surface, it’s “Coinbase Bitcoin negative premium has persisted for 67 days, with sustained weak buying power in the U.S. market,” but the core issue is: Is U.S. spot demand still dragging down BTC’s upward momentum? Currently confirmed information includes: Coinbase Bitcoin negative premium has persisted for 67 days, with sustained weak buying power in the U.S. market. On July 25, according to Coinglass data, the Coinbase Bitcoin premium index has remained in negative territory for 67 consecutive days (since May 19), with the latest reading at -0.0708%.; Coinbase Bitcoin negative premium has persisted for 67 days, with sustained weak buying power in the U.S. market. BlockBeats report, on July 25, according to Coinglass data, the Coinbase Bitcoin premium index has remained in negative territory for 67 consecutive days (since May 19), with the latest reading at -0.0708%.; Previously, this index recorded 40 consecutive days of negative premium from January 16 to February 24 this year, setting a new record for the longest continuous negative stretch since its inception, surpassing the approximately 30 consecutive days of negative premium during the “1011 crash.”; The Coinbase Bitcoin premium index measures the price difference between Bitcoin on Coinbase and the global market average; a negative premium typically reflects stronger selling pressure in the U.S. market, declining investor risk appetite, rising risk-off sentiment, or capital outflows. The first layer is the quality of spot demand. The prolonged negative premium on Coinbase indicates that active buying during U.S. trading hours is not significantly dominant. The second layer is the source of capital. If U.S. exchange buying remains persistently weak, further price advances will require active capital inflows from other regions or channels to compensate. The third layer is risk appetite. For BTC to continue rising, we need to see U.S. buying return to a premium, or other capital sources strong enough to offset this weakness. My understanding is that BTC resembles an event requiring weight adjustment rather than a standalone trading signal. It only holds analytical value when viewed alongside price, volume, capital sources, or corporate operational data. I won’t frame this as a straightforward bullish or bearish call, because a single news item can only adjust weights—it cannot replace subsequent data. Moving forward, I will monitor three validation points: whether the Coinbase premium returns to positive territory; whether other USD buying can fill the gap; and whether trading volume expands in sync with BTC’s upward move. If these data points fail to align, this news remains merely an emotional indicator; if they do align, it warrants further weight increase. Source: BlockBeats. $BTC #coinbase #riskalert #projectmonitor #hashkeycompanycheckup #cryptomarket #hashkeynews