Bitcoin Price Under Pressure as Institutional Sellers Refuse to Budge

Coinbase Bitcoin Premium Index has been negative for 40 days, indicating institutional selling.

On-chain data shows that demand for Bitcoin has remained negative for 208 consecutive days.

The latest figures suggest large investors are still selling while buyers have not stepped in with enough strength to change the trend. According to Darkfost, the Coinbase Bitcoin Premium Index compares the price of Bitcoin on Coinbase Advanced with its price on Binance, and when it's below zero, Bitcoin is trading at a lower price on Coinbase.

The index has remained negative since May 15, showing that selling pressure from large investors has not eased. Instead of slowing down, the pressure has picked up in recent weeks.