Bitcoin Recovery in Motion? Analyst Tracks Key Divergence Between US and Asia Market
Bitcoin is consolidating after a recent surge, trading around $84,650, down from nearly $86,000. Analysts are examining on-chain data for signs of renewed buying pressure. Escalating US-China trade tensions have increased market volatility, yet Bitcoin remains above a critical support level following a 30% correction. The Coinbase Premium, indicating price differences between exchanges, is tightening into a triangle pattern, suggesting potential upside momentum and recovering institutional demand. In contrast, the Korea Premium Index has lagged, reflecting delayed participation from Korean retail investors. This divergence indicates a shift in market leadership towards US investors. Despite macroeconomic uncertainties, the Coinbase Premium's upward trend signals healthy demand, supporting a potential mid- to long-term recovery for Bitcoin's price.
