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Bitcoin Updates: American Bitcoin Holders Pull Back While Asian Markets Strengthen Amid Changing Crypto Liquidity

Bitcoin Updates: American Bitcoin Holders Pull Back While Asian Markets Strengthen Amid Changing Crypto Liquidity

Bitget-RWA2025/11/22 16:12
By:Bitget-RWA

- Coinbase's Bitcoin premium index hit -0.0499% on Nov 19, its widest negative level since Q1 2025, reflecting U.S. selling pressure and institutional profit-taking. - U.S. Bitcoin ETFs saw $2.47B in redemptions (63% of total outflows) as prices fell to 7-month lows, contrasting with rising Asian liquidity in spot markets. - Asian markets absorbed BTC inflows while U.S. capital retreated, signaling geographic liquidity reallocation rather than structural demand decline. - Macroeconomic factors including fa

The

Premium Index has dropped to its most negative point since early 2025, indicating a decline in U.S. demand and heightened caution among institutional players in the crypto sector. As of November 19, the index , based on Coinglass figures, showing the price difference between Coinbase—a leading U.S. exchange—and the global average. When the premium is negative, it means Bitcoin is trading at a lower price on Coinbase compared to international exchanges, often reflecting selling pressure and a more cautious approach from American investors.

The ongoing negative trend since October 31 points to changing liquidity patterns, with U.S. funds pulling back from domestic crypto holdings. Experts link this to institutions locking in profits after a period of heavy buying, rather than a widespread market downturn. "This situation is similar to the stress seen in February, when the premium nearly reached -$138 as U.S. investors reduced their positions," one market analyst commented.

, have experienced increased spot trading and more stablecoin deposits, indicating that liquidity is shifting geographically rather than Bitcoin demand fundamentally weakening.

The softer U.S. market is also highlighted by unprecedented withdrawals from Bitcoin exchange-traded funds (ETFs). BlackRock's

(IBIT) alone saw $2.47 billion in withdrawals in November, making up 63% of all U.S. spot Bitcoin ETF outflows. This trend intensified as Bitcoin's price dropped to a seven-month low around $83,461, causing ETF investors to incur losses. At the same time, and trading desks in Singapore, have increased their Bitcoin holdings, suggesting these regions are playing a larger part in price discovery.

The negative premium and ETF withdrawals are part of a larger picture of macroeconomic challenges. Diminishing expectations for Federal Reserve rate cuts and a stronger risk-off mood have accelerated the movement of capital away from riskier assets.

since its October high, and $2 billion in leveraged positions have been wiped out in the last 24 hours, according to CoinGlass. Despite these headwinds, . "Historically, when prices dip below the realized price, it often creates favorable opportunities for long-term investors," a strategist from LVRG Research observed.

The short-term outlook for the market is still unclear. Although there was a brief period of stabilization in ETF flows, with $75.4 million in net inflows on November 19, institutional investors remain wary. Experts warn that if Bitcoin drops below crucial technical thresholds like $90,000, outflows could pick up speed. The next few weeks will be pivotal in determining whether this correction is a temporary adjustment or the start of a longer bearish trend.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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