Coinbase Premium Index Spells Trouble for Bitcoin at 90-Day Low
The Coinbase Premium Index for Bitcoin has remained negative for 90 days, indicating that Bitcoin trades at a lower price on Coinbase compared to Binance.
This sustained negative premium reflects ongoing selling pressure in the US market, despite Bitcoin's price struggling to break above $70,000 since May.
Technical indicators like RSI and Bollinger Bands confirm bearish sentiment, while reduced buy-side support below current prices suggests increased vulnerability to downward moves.