Bitcoin Sell-Pressure Is Coming From US Traders: Can BTC Drop to $80K?
US traders are exerting strong selling pressure, evidenced by a one-year low in the Coinbase Premium Gap, risking a BTC drop toward $80K.Summary
Bitcoin is facing significant selling pressure primarily from US-based investors, indicated by the Coinbase Premium Gap (CPG) hitting its lowest level in a year at approximately -63.85. The CPG measures the price difference between BTC on Coinbase (USD pair) and Binance (USDT pair); a deeply negative reading suggests aggressive selling by US traders relative to offshore counterparts. This low occurred during a US market holiday when spot Bitcoin ETFs were inactive, implying the selling originated from large US traders outside of traditional funds. Concurrently, broader market sentiment shifted, with US futures falling amid escalating tariff threats, while safe-haven assets like gold and silver rallied, signaling a rotation away from risk. Technically, Bitcoin's daily chart shows a rising wedge pattern, which often signals weakening upside momentum and increases the risk of a downside breakdown if macro pressure continues. A confirmed break below the wedge support could target the $80,000–$78,000 demand zone, mirroring a previous drop from over $102,000 to $78,350 after a similar CPG low in early 2025.
(Source：Cointelegraph)