Bitcoin (BTC) market measures sent mixed signals, with a large-holder cohort adding coins while several indicators of spot demand stayed weak, leaving no confirmation of a broader buying shift.
The Coinbase Premium Index stood near -0.1416%, placing Bitcoin below its price on the comparison exchange. The index compares Coinbase pricing with another exchange and offers only a partial gauge of demand linked to U.S. trading; it does not capture every U.S. transaction. The discount echoes an earlier EconoTimes report on Coinbase pricing.
Exchange balances rose by a net 8,428 BTC during the week after deposits and withdrawals were offset. The flow indicates that more Bitcoin moved onto exchanges than left over the period, but it does not show whether the coins were sold. The short-term holder spent output profit ratio (STH-SOPR) was 0.9982, just below the breakeven mark of 1, a reading consistent with short-term holders moving coins near cost or at a small loss.
The large-holder reading pointed the other way. Wallets holding 1,000 to 10,000 BTC added 5,230 BTC on net over a rolling 60-day period, following a previous 62,600 BTC net reduction. The measure tracks the cohort’s balance change during its rolling window; it does not show that smaller or larger wallet groups also accumulated.
Binance held $1.76 billion in Tether (USDT), up from about $790 million. The larger reserve may mean more potential capacity to buy through the exchange, but its size alone does not establish that USDT was converted into Bitcoin. The reserve figure and wallet measure describe different parts of the market: exchange liquidity and the holdings of one Bitcoin cohort.
Taken together, the readings do not confirm a market bottom. The Coinbase premium, exchange flows and STH-SOPR are among the measures to monitor for changes in spot-demand conditions.
