Bitcoin (BTC) ‘Coinbase Premium’ has been snubbed amid reports of Trump’s plans to designate cryptocurrencies as national policy

The stars couldn’t align more favorably for cryptocurrencies in the United States, the world’s largest economy, if the latest media reports are any indication. However, one key indicator shows a lack of excitement among US investors.

late on Thursday, Bloomberg reported President-elect Donald Trump will likely issue an executive order declaring cryptocurrencies a national necessity or a voiced priority in his administration. Trump could also announce the creation of a cryptocurrency advisory that will advocate for the digital asset industry’s policy goals.

The report comes amid Expectations have increased Trump will announce an executive order supporting the creation of a strategic Bitcoin reserve on his first day in office.

Trump, once a crypto skeptic, has embraced the industry in the run-up to the November election, raising hopes for easier regulation and widespread adoption of digital assets. On Friday, the cryptocurrency industry will host a “crypto inaugural party” in support of Trump, in hopes that he will fulfill his election promises after taking office on January 20.

An executive order declaring the creation of a strategic bitcoin reserve a policy priority would stand in stark contrast to the largely anti-crypto Biden administration, under which agencies have taken more than 100 enforcement actions against the industry.

However, Bitcoin is trading at a slight discount on Nasdaq-listed exchange Coinbase compared to global exchange Binance Holdings. It is a sign of the muted demand from the US side for the leading cryptocurrency.

The chart prepared by CryptoQuant shows fluctuations in the Coinbase premium index, which measures the spread between the price of BTC on Coinbase and Binance.

BTC’s November-December surge from $70,000 to over $108,000 was led by US investors, as evident from Coinbase’s flat premium during that period.

There is still no similar bullish pricing on Coinbase, despite expectations of significant positive developments in the US. Much of Trump’s optimism may have been taken into account during the November and December rally, and US traders are now waiting to see if the next president will follow through. On his promises.

BTC was trading at $101,600 at press time. Prices have ranged largely between $90,000 and $108,000 since mid-December. CoinDesk Indices Data He appears.