<p><strong>Key points:</strong></p><ul><li><p data-ct-non-breakable="undefined">The Coinbase Premium metric has reached its highest since February as US demand for Bitcoin accelerates.</p></li><li><p data-ct-non-breakable="undefined">“Signs of overheating” remain absent, analysis says, predicting positive trends through the end of 2025.</p></li><li><p data-ct-non-breakable="undefined">Exchange reserves continue to decline, with spot exchanges down 550,000 BTC in under a year.</p></li></ul><p>Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" title="null">BTC</a>) is seeing a “surge in buying” from US consumers in a key 2025 tailwind, analysis says.</p><p>Onchain analytics platform <a href="https://cryptoquant.com/asset/btc/chart/market-data/coinbase-premium-gap?window=HOUR&sma=0&ema=0&priceScale=log&metricScale=linear&chartStyle=line&img=link%2F6847eb8b3ba6512fa3f7f5fe.png" title="null">CryptoQuant</a> shows the Coinbase Premium metric hitting its highest levels since February.</p><h2>Coinbase Premium eyes new 2025 highs</h2><p>US Bitcoin demand is staging a convincing comeback as the Coinbase Premium tags multimonth highs.</p><p>The Premium, which reflects the difference in price between Coinbase’s BTC/USD and Binance’s BTC/USDT pairs, is often used as a proxy for US buyer appetite.</p><p>On June 6, it reached $109.55, marking the largest gap between the two markets since Feb. 3.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">\ud83d\udccaMARKET UPDATE: The <a href="https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw">#Bitcoin</a> Coinbase Premium Index has grown steadily since May, signaling robust demand from US-based investors. \ud83d\udcaa<br><br>Despite a 6% pullback in <a href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw">$BTC</a> since May 22, the rising premium suggests many view the dip as a buying opportunity. \u26a1\ufe0f <a href="https://t.co/2Aol0VQPZk">pic.twitter.com/2Aol0VQPZk</a></p>— Cointelegraph Markets & Research (@CointelegraphMT) <a href="https://twitter.com/CointelegraphMT/status/1931101291159474271?ref_src=twsrc%5Etfw">June 6, 2025 </a></blockquote>
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<p>In one of its “<a href="https://cryptoquant.com/insights/quicktake/68477e0d99ecc116aca554f0-Bitcoin-Surge-in-Buying-from-US-Investors" title="null">Quicktake</a>” market updates on June 10, CryptoQuant contributor Crypto Dan described supportive behavior from Coinbase users.</p><p>“This positive movement, without signs of overheating, is a typical pattern seen in a rising cycle following a correction, suggesting optimistic movements in the cryptocurrency market in the second half of 2025,” he summarized.</p><figure><img alt="Bitcoin Coinbase Premium. Source: CryptoQuant" src="https://ipowercrypto.com/wp-content/uploads/2025/06/019758f3-82d4-764f-8772-2900a8658402.png" title=""></figure><p>The Premium trend comes as US institutional demand also returns after a momentary unwinding due to BTC/USD retesting $100,000 support. <a href="https://cointelegraph.com/news/bitcoin-etf-bleed-trump-musk-fallout-sentiment-fear" title="null">Macro uncertainty</a> lay at the heart of what appeared to be a knee-jerk reaction among investors.</p><p>As <a href="https://cointelegraph.com/news/blackrock-bitcoin-etf-fastest-70-billion-assets-under-management" title="null">Cointelegraph reported</a>, the largest US spot Bitcoin exchange-traded fund (ETF), BlackRock’s iShares Bitcoin Trust (IBIT), has become the fastest ETF to reach $70 billion in assets under management.</p><h2><br>BTC reserves slashed in under a year</h2><p>Continuing, CryptoQuant flagged declining exchange reserves as an ongoing catalyst for BTC price strength.</p><p><em><strong>Related:</strong></em> <a href="https://cointelegraph.com/news/100k-becomes-bulls-key-level-5-things-bitcoin-this-week" title="null"><em><strong>$100K becomes bulls’ key level: 5 things to know in Bitcoin this week</strong></em></a></p><p>“Every rally is the result of unseen preparation,” fellow contributor Bayku\u015f argued in another recent <a href="https://cryptoquant.com/insights/quicktake/68475899cbca6801b834a627-Bitcoins-Great-Escape" title="null">Quicktake post</a>. </p><p data-ct-non-breakable="undefined">“As Bitcoin marches toward $110,000, what are investors doing? The answer is simple: They’re pulling BTC off exchanges. Slowly but surely, with steady determination.”</p><figure><img alt="Bitcoin spot exchange reserves. Source: CryptoQuant" src="https://ipowercrypto.com/wp-content/uploads/2025/06/019758f4-e92f-7d0a-b29b-471839de5d32.png" title=""></figure><p>CryptoQuant data calculates that since July 2024, over half a million coins have left spot exchanges alone.</p><p>“This isn’t just a routine move,” Baykus continued, referencing supply and demand dynamics. </p><blockquote data-ct-non-breakable="undefined">“People aren’t selling\u2014they’re holding. They’re not day trading, they’re holding for the long term.”</blockquote><p class="post-content__disclaimer" data-ct-non-breakable="undefined" type="">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.</p><template data-name="subscription_form" data-type="markets_outlook" data-ct-non-breakable="undefined" label="Subscription Form: Markets Outlook"></template><p><br></p>