I just noticed something a bit strange in the market. The Bitcoin Premium Index on Coinbase has been negative for 40 consecutive days, the longest streak since 2023. This means US investors are consistently paying less than the global market, or they simply don't want to buy.

The weird part is, Bitcoin has recovered 15% from its February lows and is now above $62k, but this premium index remains stuck around -0.047%. This divergence indicates that the rally isn't driven by local US buyers. It could be from outside trading hours or from other markets.

There is a slight positive signal. The premium has gradually become less negative, from -0.22% to approaching -0.05%. But it's still far from positive, and according to historical market theory, a positive level usually signals an accumulation phase, not just a relief rally. It's also interesting that, based on historical price action theory, Google searches for 'bitcoin zero' in the US hit a record high earlier this month, even though global interest remains flat. So US investors, in particular, are very skeptical right now.

Oh, and XRP is rallying with good volume, whale accumulation is happening, but a sustainable bullish reversal hasn't been confirmed yet. Rakuten is integrating XRP into their payment app with 44 million users, but it's still in a broader downtrend. Historical theory suggests this is just the early stage; no strong confirmation yet. Worth watching.