Coinbase Bitcoin Premium is declining again and this is not a good sign.

It's now down to its lowest level in 3 weeks, which means institutional demand is fading.

The good thing is that Saylor is raising another $4.2B to buy BTC, which will definitely help BTC.

But apart from that, we need new buyers.

Also, ETF inflows need to go around $400M-$500M for BTC to break $110K level.

If this didn't happen, we'll continue to see boring price action.