Bitcoin Coinbase Premium hits monthly low as CLARITY Act vote squeezes US demand
US Bitcoin demand weakened after the Senate failed to advance the CLARITY Act, which hurt sentiment and triggered downside pressure. Coinbase Premium fell to a one-month low of -0.079, signaling weaker US buying on Coinbase versus Binance. Exchange flow data showed a split: Coinbase selling intensified while Binance appeared to keep accumulating, which some analysts viewed as a bullish divergence. Short-term holders drove much of the selling pressure, sending up to 34,000 BTC to exchanges over 24 hours, with about 23,200 BTC moved at a loss. This was the largest short-term holder capitulation in the past month. The reaction suggests US investors were more sensitive to the legislative setback, while offshore demand remained comparatively stronger.
