Bitcoin Holds Near $90,000 as Negative U.S. Spot Premium Signals Weak Domestic Demand

Bitcoin is trading around the $90,000 area while on-chain indicators point to weak U.S. spot demand and ongoing selling from American investors over the past month. Data tied to Coinbase shows a mostly negative Bitcoin Premium Index, with only a brief positive blip during a short move above $94,000 before slipping back. At the same time, global liquidity has been flat in recent weeks, though expectations for looser central bank policy in 2026 are building and could later support Bitcoin.