The Coinbase Premium indicator fell to -0.221%, marking the fifth time it has reached this level since May. This decline indicates that buying pressure from US investors is lower than from Binance investors.

However, historically, this phenomenon is temporary during bull markets, often attracting new buyers who see it as an opportunity.

While it is uncertain whether the price after this sharp drop is a bottom, if the bull market continues, a bottom may be formed soon, potentially triggering a rebound.