Key Takeaways
- Bitcoin reached a new all-time high of $112,000 on July 9, 2025.
- The Coinbase Premium rose to nearly $88, signaling strong US investor demand.
- Persistently high premiums suggest continued domestic enthusiasm for Bitcoin.
Bitcoin surged to a new all-time high of $112,000 on July 9, breaking out from a month-long period of range-bound trading.
The rally coincided with a notable increase in the “Coinbase Premium,” an indicator tracking the price difference between Bitcoin on Coinbase and offshore exchanges like Binance.
Data from CryptoQuant revealed that Bitcoin was trading over $48 higher on Coinbase at the peak of the upswing, underscoring heightened buying activity from US investors.
Earlier in the week, the premium had reached as much as $87.76, marking a significant gap between US and offshore markets.
U.S. institutional and retail demand
The Coinbase Premium is widely viewed as a barometer for institutional and retail demand in the United States.
This persistent premium, even after the new all-time high, suggests that US interest in Bitcoin remains robust. According to historical price charts, such momentum often reflects both institutional and retail participation.
The premium tracks price differences between Coinbase—a platform primarily serving US and institutional clients—and Binance, which caters to a global audience. Elevated premiums typically indicate strong domestic demand, especially during periods of rapid price appreciation.
