ChainCatcher message, CryptoQuant analyst Burakkesmeci pointed out that the Coinbase Premium Index fell to -0.200 on the eve of the US elections on October 25, 2024, due to increased uncertainty, and further declined to -0.237 by the end of the year, reaching a 12-month low. Bitcoin dropped in a low liquidity market, with increased selling pressure in the US market significantly impacting the Coinbase Premium Index, indicating insufficient institutional demand and cautious investor sentiment. If macroeconomic conditions remain unchanged or buyer interest does not increase, Bitcoin's short-term price recovery will face challenges.