Bitcoin Coinbase premium drops to one-month low as U.S. demand weakens after CLARITY Act vote

Bitcoin’s Coinbase premium fell to a one-month low, according to multiple reports ^{[1] [2]}.

CoinDesk attributed the decline to weakening U.S. demand, a setback for the Clarity act, and expectations of a Fed rate hike ^[1].

Cointelegraph reported that exchange demand on Coinbase declined after the U.S. Senate voted against the CLARITY Act, and that traders sent BTC to exchanges at an unrealized loss ^[3].

Crypto Briefing linked the drop in the Coinbase premium to fading U.S. buying interest and said it may indicate shifts in U.S. institutional sentiment affecting Bitcoin’s market dynamics and global positioning ^[2].

TheCoinrise said on-chain data points to holder capitulation after the crypto market structure bill failed to advance as expected, and added that a falling or negative Coinbase premium typically signals weaker buying pressure from U.S. investors relative to the rest of the world ^[4].