📊$BTC #CryptoQuant : Examining the data for 2024, we clearly see that Bitcoin price corrections have occurred when the CPI (Coinbase Premium Index) fell below its' SMA14.

Currently, the CPI is at -0.008 and the SMA14 is at 0.020. This indicates that sellers have a stronger hand in the US market.

When the Coinbase Premium Index is below its SMA14, selling pressure on Bitcoin increases.