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HomeBitcoinIs This The Best Time to Buy Bitcoin? U.S. Market Sentiment Hits...

Is This The Best Time to Buy Bitcoin? U.S. Market Sentiment Hits New Highs

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  • U.S. investors reengage with Bitcoin, influenced by positive Coinbase Premium Index readings, signaling bullish sentiment.
  • Profit-taking observed as aSOPR exceeds 1.11, suggesting some investors are selling Bitcoin at a profit.

Bitcoin has remained above the $100,000 mark since crossing that threshold on January 17, recording a 24-hour gain of 2.14%. This upward movement reflects steady demand, as traders continue to purchase BTC at current price levels. 

Following ETHNews reports, one key factor supporting this momentum is the renewed interest from U.S. investors, who had previously reduced their exposure to the asset during a period of market caution.

Recent data analysis by ETHNews, suggests that buyers in the United States have started accumulating BTC again, as observed through metrics such as the Coinbase Premium Index. This indicator measures the difference between Bitcoin’s price on Coinbase and its price on Binance. 

coinbase-btc-premun-index
Source: CryptoQuant

When the index remains in positive territory, it generally implies bullish sentiment among U.S. traders. At present, the index hovers above zero but has not surged far, indicating a balanced but optimistic stance.

Meanwhile, some investors are choosing to lock in profits at these price levels. The Adjusted Spent Output Profit Ratio (aSOPR), which assesses whether Bitcoin holders are selling at a profit or loss, stands at 1.11. A reading above 1 points to holders realizing gains.

btc-ratio
Source: CryptoQuant

This profit-taking may apply short-term pressure on BTC’s potential to move quickly beyond its current range. However, observers note that the overall market attitude remains positive.

Additional support comes from derivatives markets, as evidenced by the Taker Buy-Sell Ratio of 1.021. This ratio compares the volume of buy orders to sell orders being executed.

A value above 1 indicates more buy orders are getting filled, reinforcing the idea that bullish sentiment dominates. If the ratio rises further, it may boost buying pressure and pave the way for future gains. If it falls below 1, it might signal a shift toward selling.

An external element that has contributed to broader market optimism is the executive order signed by President Donald Trump. This directive establishes a comprehensive framework intended to guide the crypto sector in the United States.

BTCUSDT_2025-01-24_20-47-22
Source: Tradingview

Bitcoin (BTC) is currently trading at $104,988.21 USD, reflecting a modest increase of 0.53% over the past 24 hours. With a market capitalization of $2.09 trillion USD, Bitcoin maintains its position as the leading cryptocurrency by market value.

Over the past day, trading volume reached approximately $93.22 billion USD, indicating strong investor interest and robust market activity. Bitcoin’s circulating supply remains at 19.81 million BTC, edging closer to its fixed maximum supply of 21 million, which reinforces its scarcity-driven value.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: [email protected] Phone: +49 160 92211628
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