Bitcoin Coinbase Premium Hits Lowest Level Since February – Will BTC Drop Below $80,000?

The Bitcoin Coinbase Premium Index, which tracks the price difference between Coinbase (US) and Binance (international) to gauge US institutional buying demand, reached -0.14 on December 30, its lowest point since February. This sustained negative pressure, which saw the index negative for 16 consecutive days in December, coincided with Bitcoin failing to close a weekly candle above $90,000, leading analysts to suggest a local bottom has not yet formed. Historically, a similar sharp drop in February preceded a temporary breach of the $80,000 support level before a quick rebound. While December also saw negative ETF flows for the second month, the outflows declined compared to the previous month, and crucially, long-term holders (LTHs) have shifted from distribution to accumulation, moving about 10,700 BTC into long-term holding status. Although continued selling pressure might push BTC below $80,000, the shift in LTH behavior offers a modest, historically significant sign that consolidation or a bullish recovery could follow.

(Source：BeInCrypto)