Bitcoin Nears Bottom on Whale Buying, but Coinbase Premium Signals Missing Demand

A recent report from Cryptoquant, a crypto on-chain analytics platform, highlights a divergence in Bitcoin’s on-chain data between large holders and the broader spot market. While major market participants appear to be shifting behavior, overall demand from retail and institutional spot buyers in the United States remains subdued. According to the analysis , whales holding between 1,000 and 10,000 BTC have moved from distribution to accumulation. Their 60-day net position shifted from a 62,600 BTC decline to a 5,230 BTC gain.