Bitcoin price forms two BTC futures gaps after Coinbase premium flips negative

Key takeaways: Bitcoin’s Coinbase premium index turned negative for the first time in 15 days, indicating defensive short-term sentiment among US investors. Bitcoin CME futures gaps between support at $92,000-$92,500 and resistance at $96,400-$97,400 suggest a period of range-bound trading. Bitcoin’s Coinbase premium index, which measures the gap between BTC price at Coinbase Pro and Binance exchange, turned negative after a 15-day positive stint, signaling potential bearish sentiment among US investors. This drop coincides with Bitcoin (BTC) slipping below $94,000, and the premium’s decline suggests reduced buying pressure on Coinbase, which is viewed as a proxy for both institutional and retail demand source: https://cointelegraph.com/news/bitcoin-price-btc-futures-gaps-after-coinbase-premium-turns-negative?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound