NewsBTC •
January 15, 2026 at 16:40 •
Analysis
The recent Bitcoin rally may be driven by real spot demand on Coinbase. Data indicating elevated spot activity on Coinbase suggests that this move higher is bolstered by direct purchases rather than leveraged positioning in derivatives markets. This distinction matters because Spot buying reflects a real capital commitment, not a temporary bet. Why Risk Management When Demand Is Structural The Bitcoin rally since Sunday’s Powell subpoena news has been largely linked to Coinbase spot buyers. Crypto trader Alex Krüger has highlighted on X that both the Adjusted Coinbase Premium and Cumulative Volume Delta (CVD) show steady spot accumulation, which is exactly why this has been a true hated rally even among bitcoiners. For over a month, the dominant narrative in every cr...
