Bitcoin demand in the U.S. remains subdued as indicated by a negative Coinbase premium, meaning bitcoin trades cheaper domestically than overseas. However, institutional trading activity on Coinbase Prime increased by 8.6% to over 7,000 BTC on Oct. 15, signaling growing interest from institutional investors. Despite this, leveraged funds hold significantly more short than long positions in CME bitcoin futures, reflecting cautious sentiment. Key indicators like the VIX and U.S. Dollar Index suggest stable market conditions, but the U.S. market has yet to show strong buying pressure for bitcoin. Monitoring whether the Coinbase premium turns positive and sustained high institutional trading will be crucial for future market direction.
U.S. bitcoin market liquidity shows a persistent Coinbase discount of 0.137%. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 16, 2026 18:32 WIB: out of 50 major cryptocurrencies, 45 rose and 4 fell today. Notable gainers include XTZ (Tezos) up 7.91% with a typical hold time of 100 days, BCH (Bitcoin Cash) up 7.53% with a 69-day hold, and VET (VeChain) up 7.27% with a 148-day hold time.
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