Bitcoin rallied to $86K in 24 hours but faces weak US spot demand signals via negative Coinbase Premium Index; MicroStrategy acquired 950 BTC for $75.7M.
Macro & Markets ·
Bitcoin rallied to $86,000 with a 6% gain over 24 hours, but the Coinbase Premium Index remained negative, indicating weak US spot demand despite the price recovery. The index reading of -0.02 suggests weaker buying activity or stronger selling pressure on Coinbase relative to other markets. MicroStrategy purchased 950 BTC for $75.7 million, expanding its total holdings to 846,000 BTC now valued at approximately $72 billion.