According to data from Woofun AI, CryptoSavingExpert® has observed a significant divergence between Bitcoin's market capitalization recovery and weak U.S. spot demand, with the Coinbase (COIN.US) premium indicator remaining persistently negative, highlighting a cautious stance in the U.S. spot market.

In late June, Bitcoin's price experienced a sharp decline, pushing the Coinbase (COIN.US) premium down to nearly -0.20%. Despite a subsequent price recovery, the premium failed to turn positive. By early July, buying pressure regained control of the market, yet the premium remained mostly in negative territory, with brief upward momentum quickly retreating below zero.

Throughout mid-July, Bitcoin's price continued to climb, but the premium stayed negative. Eventually, the price recovered to $64,000 and entered a consolidation phase, while U.S. purchasing power remained weak. Woofun AI's compiled data indicates that this divergence is a key observation in the report, as a positive premium typically signals stronger demand from the U.S. market.

Another chart compares Bitcoin's price against the total cryptocurrency market capitalization, showing the two data series moving almost in lockstep across multiple cycles. Each major price surge has driven overall market value growth, with bull markets consistently reaching new valuation peaks before sharp corrections. Even during price declines, market capitalization remains above the lows of the previous cycle, and at the end of each cycle, the market's total capital is larger than before.

Recent statistics show that the total market capitalization of all cryptocurrencies has approached $2.5 trillion. Bitcoin's trajectory aligns with the broader market, and while recent high volatility has lowered valuations, it has not hindered long-term structural growth. CryptoSavingExpert notes that if the Coinbase (COIN.US) premium can consistently turn positive, it will become another important validation signal for investors.