<ul data-eligibleForWebStory="false"><li>Bitcoin broke above $110,000 reaching a new all-time high of $111,999 supported by a late rebound in the Coinbase Premium Gap, indicating increased spot demand from US investors.</li><li>The Coinbase Premium Gap measures the price difference between Coinbase and Binance, reflecting US spot market demand. Although the premium has risen, it remains below the June peak, suggesting some investors are still cautious about chasing the rally.</li><li>Analysts suggest Bitcoin could benefit from fresh liquidity entering the market as indicated by metrics like the Stablecoin Supply Ratio (SSR) and Moving Average Convergence Divergence (MACD). Despite the positive indicators, sustained volume increase and cooling of SSR are deemed crucial for further price gains.</li><li>Despite favorable technical conditions including a breakout from a bullish pattern, potential macroeconomic risks like the US Federal Reserve's decision on interest rates could impact Bitcoin's rally. BTC currently trades at $111,680, up by 2.1% in the last 24 hours.</li></ul>

Bitcoin Sees Coinbase Premium Recovery, But Strength Still Below June Peak – What It Means For BTC?

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