The Coinbase Premium Index (CPI), a key metric for gauging US institutional appetite for Bitcoin (BTC), has recently registered its lowest level of the year. The CPI tracks the price disparity between BTC traded on Coinbase Pro, heavily utilized by American institutions, and global counterparts like Binance. Historically, a high or sustained positive premium has signaled aggressive institutional accumulation. The current decline, which saw the premium briefly dip into negative territory, suggests a significant reduction in buying pressure and potentially active distribution by large, US-based investors. When the premium is negative, BTC is trading cheaper on Coinbase than on international exchanges, indicating US sellers are outpacing buyers. This sustained weakness in the CPI confirms that US institutional demand is lagging behind global interest, raising cautionary flags regarding near-term price stability and market dynamics, particularly as institutional flows often dictate short-term volatility.
Source: Coinbase premium hits yearly low, hinting at institutional selling
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