According to Deep Tide TechFlow news, on January 2, CryptoQuant analyst Burakkesmeci stated that the Coinbase premium index continues to decline, having fallen to -0.237, marking a new low in nearly 12 months. The index previously dropped to -0.200 just before the U.S. elections on October 25, 2024.
Analysis indicates that, in the low liquidity market environment at the end of the year, the decline in Bitcoin prices combined with the increasing selling pressure in the U.S. market has further pressured the Coinbase premium index.
The decline in this indicator reflects insufficient institutional demand, while also highlighting the cautious sentiment among U.S. investors. If macroeconomic conditions do not improve or if institutional and retail buying fails to recover, Bitcoin's short-term price may face correction pressure.
