The Bitcoin Coinbase Premium Index has remained negative for ninety days, indicating sustained selling pressure from American traders. Bitcoin’s price dropped from approximately $79,000 in May to $62,923.64, with the index at minus 0.1066% according to Coinglass. Technical indicators such as the RSI and Bollinger Bands confirm bearish sentiment, while Glassnode observes erosion of buy-side support below the current price. Despite whales accumulating an additional 54,000 BTC since mid-June, price action has not shifted, suggesting increased downside vulnerability.
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