The Coinbase premium indicator has reached its lowest level since January 2023, signaling subdued sentiment among U.S. investors. Historically, negative premiums have preceded market rebounds, suggesting that pessimism may attract significant buying pressure, driving prices upward.

Technical analysis identifies $90k as a crucial psychological support level, with past buying pressure reinforcing its importance. This level may serve as a battleground for bullish and bearish forces, potentially leading to complex movements like Stop-Hunting, which could offer strong buying opportunities.

Despite current sentiment, the bull market appears intact. Long-term investors might consider maintaining their positions, anticipating further upside.