Bitcoin Liquidity Fractures Along Geographic Lines as Leverage Builds
- —European BTC demand up 4% since early September, US down 3%
- —Coinbase Premium Index stuck between -0.01% and -0.03%
- —Large Hyperliquid accounts: $830M BTC shorts vs $518M longs
- —ETH liquidity at $13–14M, just 35–45% of Bitcoin's
Why it matters: A negative Coinbase premium and a short-heavy positioning among large accounts point to weak US support for BTC's rally.
Source: Blockhead