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The correlation between Bitcoin’s price and Coinbase’s App Store ranking in the U.S. is a strong indicator of retail activity:
• In Nov 2024, $BTC broke above $90K and Coinbase ranked in the U.S. top 10.
• In Mar 2025, with $BTC at $85K, it dropped to 108th place.
• Today, $BTC is still at $85K — but Coinbase has fallen to 350th.
The logic is simple: when retail joins the market, they download Coinbase. When they’re gone — the app sinks in the charts.