Bitcoin's Market Cap Surpasses $1 Trillion Amid Strong U.S. Demand
Bitcoin's surge to $52,000 is attributed to strong U.S. investor demand, as indicated by the highest price premium on Coinbase in 9 months, according to CryptoQuant data. The majority of the price appreciation occurred during U.S. trading hours, with modest gains during Asian and European sessions. The so-called "Coinbase Premium Index" reached its highest level since May 2023, suggesting significant buying pressure from U.S. investors. Bitcoin's market capitalization surpassed $1 trillion for the first time since December 2021, with spot BTC ETFs attracting nearly $500 million in daily net inflows.