I found it interesting that Bitcoin has recovered more than 15% since February and is now above $62,000, but Coinbase's premium index remains stuck in the negative pole for 40 consecutive days. This is the longest such period since 2023. Basically, this means that American buyers are paying less than the rest of the world, or they simply aren't entering.

The premium improved a bit, from -0.22% to close to -0.05%, but is still far from the positive pole that historically indicates real accumulation. The price recovery mainly came from outside U.S. hours, from other platforms. Meanwhile, searches for 'bitcoin zero' in the U.S. hit record highs. It seems that American investors are losing conviction in a way I don't see elsewhere.