As a researcher, I’m observing an intriguing trend regarding Bitcoin (BTC). In the lead-up to the inauguration of the newly elected U.S. President, Donald Trump, there appears to be a surge in interest or investment in BTC, which I am closely monitoring.
According to the most recent information from CryptoQuant’s analytical platform, there has been an increase in the significant Coinbase price differential (premium) indicator.
US “showing renewed buying interest” in Bitcoin
Bitcoin attracts renewed U.S. investor interest as the impending Trump administration nears, mere days away.
The chatter about a favorable cryptocurrency stance persists, with rumors suggesting immediate declarations that may signal the beginning of another Bitcoin and altcoin market surge.
The Coinbase premium has moved into positive figures for the first time since January 6th, as evidenced by current on-chain data.
In simpler terms, the premium refers to a comparison that gauges American feelings towards cryptocurrencies. It does this by examining the price gap between buying Bitcoin with U.S. dollars on Coinbase and buying it with Tether (a type of digital dollar) on Binance.
With Bitcoin approaching the $100,000 mark, American investors are displaying a surge in demand for purchasing it,” as stated by Burak Kesmeci in one of his Quicktake blog entries.
“The CPI (Coinbase Premium Index) signals a market dominated by buyers as Trump prepares to take office.”
A positive premium signifies that U.S. investors are eager to boost their Bitcoin holdings, while negative figures suggest a decreased interest in BTC investment.
According to CryptoQuant’s data analysis, the price of Bitcoin (BTC/USD) reaching new all-time highs at $108,000 has primarily kept the premium in a negative state. As Kesmeci proposes, the upcoming inauguration may disrupt the current market situation and potentially change the norm.
As Trump’s inauguration approaches within just a few days, there is a clear trend among American investors adopting a positive outlook, or “bullish stance.” Furthermore, data on consumer prices (CPI) supports this observation, indicating that U.S. investors are once again asserting their influence and regaining control over the market.
“The big question remains: how will this momentum influence Bitcoin’s trajectory under Trump’s presidency?”
BTC price tags key $102,000 level
Currently, the Bitcoin price has moved back up to approximately $102,000 as we approach the January 17th opening of Wall Street, which is the last U.S. trading day prior to Inauguration Day.
According to data from both CryptoMoon Markets Pro and TradingView, Bitcoin (BTC) increased by 2% today, hitting a 10-day peak.
Quick sell-offs took place towards the end, as some late investors in Bitcoin felt the pain as its price climbed back into seven-digit figures.
The data from CoinGlass shows that short positions on Bitcoin were liquidated for approximately $60 million over the past 24 hours, as reported currently.
According to well-known trader Daan Crypto Trades, the early part of this year has been bumpy, but since Bitcoin (BTC) is once again showing positive gains, it’s now aligning with how it typically performs in many of its recent years.
Daan Crypto Trades cited CoinGlass data showing quarterly BTC/USD performance through the years.
Typically, Question 1 (Q1) tends to be favorable for Bitcoin (BTC), noticeably during the years following the halving events, such as 2013, 2017, and most recently, 2021.
“Let’s see if that continues.”
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2025-01-17 13:52