$BTC

Bitcoin BTC Price This Week: Negative Indicators and Possible Continuation of Stagnation

It seems that the Bitcoin BTC price may continue to move in a narrow range during this week’s trading, as the latest on-chain data reveals that the Bitcoin Premium indicator on the Coinbase platform has once again fallen below zero.

The decline in this indicator indicates weak US institutional demand, which could lead to a price stagnation or even a downward correction. This comes at a time when Bitcoin ETFs are recording outflows of hundreds of millions of dollars, reflecting the sluggish sentiment of large investors.

Will this weak trend continue or is the market able to regain momentum soon?

Coinbase Premium Below Zero

In a tweet, cryptocurrency analyst Ali Martinez pointed out that the Bitcoin Premium indicator on Coinbase has once again fallen to a critical level in the past few days.

Coinbase Premium is a financial indicator that measures the difference in the price of BTC between Coinbase Pro and Binance, reflecting the behavior of investors, especially US financial institutions.