Bitcoin is experiencing short-term recovery challenges due to a significant drop in the Coinbase Premium Index, which measures U.S. retail demand for Bitcoin. This decrease in the index signifies diminished interest from U.S. investors and raises concerns about Bitcoin's potential recovery in the near future.
According to CryptoQuant analyst Burakkesmeci, the 12-month low of the index highlights ongoing obstacles for Bitcoin in regaining its momentum. The evaluation of this index provides valuable insights into the retail market and indicates potential headwinds in Bitcoin's path to recovery.
