Bitcoin Price Analysis: Is BTC’s Recovery Over as US Demand Turns Negative?

Bitcoin Price Sees Fading US Demand as Recovery Falters

Bitcoin Price Analysis

Bitcoin is trading around $83K after the rejection from the $86K to $90K resistance zone weakened short-term structure, while the Coinbase Premium Index has turned sharply negative, suggesting US-based buying demand may be fading. BTC is attempting to stabilize, but buyers need to reclaim nearby resistance to improve the outlook.

The Daily Chart

Bitcoin's daily chart shows a substantial recovery from the June lows near $58K to the recent highs around $86K. However, the rally has encountered strong resistance, and the latest price action suggests that sellers are regaining control in the short term. BTC has been rejected at the $86K to $90K resistance zone, with the lower end of that zone, around $86K, acting as the immediate barrier to a renewed advance.

Bitcoin Price Analysis: The Daily Chart

A broader resistance area appears around $95K, which would matter if Bitcoin reclaims the nearer supply zone and resumes its recovery. Still, the price is above the 100-day and 200-day moving averages, both currently near $72K, after a bullish crossover. Although BTC remains comfortably above these averages, their recent crossover and upturn reflect improved medium-term structure following the summer recovery.

Sentiment Analysis

The Coinbase Premium Index chart shows that the metric has turned sharply negative in the latest reading, falling to approximately -0.1 while Bitcoin trades near $82.7K. The index measures the price difference between Bitcoin on Coinbase and a comparable market price, with a negative reading generally indicating that BTC is trading at a discount on Coinbase relative to the reference market.