Coinbase Bitcoin Premium Remains Negative for Three Weeks: Signifies Selling Pressure in US Markets

For the past three weeks, the Coinbase Bitcoin Premium Index has remained negative, indicating persistent selling pressure from large US market participants. This sustained outflow is evident through factors such as net Bitcoin ETF outflows and significant BTC spot market discounts. 📈

The development signifies a shift in market dynamics with potential implications for Bitcoin pricing. Several analysts are drawing attention to the prolonged downward trend, including Cas Abbé, who pointed out on X that