BTC news: U.S. demand turns negative for a record 40 days as "bitcoin zero" searches peak

CoinDesk

by Shaurya Malwa

February 24, 2026

AI-Generated Deep Dive Summary

The U.S. demand for Bitcoin has hit a record 40-day negative streak, signaling structural issues in the market rather than temporary pauses. The Coinbase Bitcoin Premium Index, which measures the price difference between Bitcoin on Coinbase and the global average, has remained negative since January 15. Despite a brief recovery following Bitcoin's 15% rebound from its February 5 low, the premium failed to follow suit, indicating that U.S. buyers are not driving the demand as seen globally. The current premium sits at -0.0467%, nearly unchanged over the past two weeks when it narrowed from -0.22%. This suggests that American investors are either selling aggressively or simply staying on the sidelines, paying less than global counterparts for Bitcoin. The previous record of 30 consecutive negative days was broken during the October 2025 market downturn, but this time, even a significant price recovery has not been enough to bring U.S. buyers back into the Coinbase order books. Interestingly, Google searches for "bitcoin zero" in the U.S. hit all-time highs earlier this month, reflecting a growing interest in or speculation about Bitcoin's long-term viability. However, global search trends remained flat, suggesting that American investors are losing confidence at an unprecedented pace. This divergence highlights a potential shift in market dynamics, where institutional and dollar-denominated flows are failing to support Bitcoin's price despite broader recovery efforts. This situation matters for crypto enthusiasts and investors because it points to deeper structural issues within the U.S. market. The lack of participation from American buyers could indicate broader sentiment shifts or economic factors affecting institutional engagement. Experts warn that sustained negative premium readings often correlate with periods of reduced accumulation, which could impact Bitcoin's price stability in the long term. The combination of record negative demand and declining investor conviction underscores the challenges facing Bitcoin as a global asset class. While the market has shown signs

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Originally published on CoinDesk on 2/24/2026