Key Insights Coinbase Bitcoin Premium Index has stayed negative for 40 days, pointing to continued institutional selling. On-chain data shows Bitcoin demand has remained negative for 208 cons
Coinbase Bitcoin Premium Index stayed below zero for 40 straight days as fresh on-chain data showed Bitcoin demand has remained negative for 208 days. The latest figures suggest large investors are still selling while buyers have not stepped in with enough strength to change the trend.
The Coinbase Bitcoin Premium Index has remained negative since May 15, showing that selling pressure from large investors has not eased. The index compares the price of Bitcoin on Coinbase Advanced with its price on Binance. When the reading is below zero, Bitcoin is trading at a lower price on Coinbase. Many traders see this as a sign that professional investors are selling more than they are buying.
Darkfost said the latest data shows that this selling has continued for about 40 days. Instead of slowing down, the pressure has picked up in recent weeks. Coinbase Advanced is mainly used by professional and institutional traders. Binance, on the other hand, has a larger share of retail traders. When the price on Coinbase stays below Binance for a long period, it usually shows that bigger market players are selling into the market.
Coinbase Bitcoin Premium Index | Source: Darkfost Economic data also added to the weak mood. The latest Personal Consumption Expenditures report came in higher than expected. Headline PCE was 4.1%, above the forecast of 4.0%. Core PCE also came in at 3.4%, slightly above the expected 3.3%.
GDP also surprised to the upside with a reading of 2.1%. Strong growth and higher inflation reduce the chances of an interest rate cut in the near term. That has left many investors cautious about buying assets like Bitcoin.
Some traders now believe the United States Federal Reserve could keep interest rates high for longer. Others even think another rate increase cannot be ruled out if inflation remains stubborn. That has added more pressure to the market.
New data shared by Ali Charts shows that Bitcoin demand has stayed below zero for 208 straight days. The report looks at what is known as apparent demand. It compares newly mined Bitcoin with older coins moving back into the market. When more old coins are being sold than new coins can absorb, the reading turns negative.
Between November 9, 2025, and May 31, 2026, the metric stayed between zero and negative 150,000 BTC. During that period, selling remained steady but did not become extreme.
Bitcoin Accumulation Outlook | Source: Ali Charts The latest update tells a different story. Apparent demand has now dropped to negative 273,000 BTC and has remained around that level. This means more Bitcoin is entering the market than buyers are taking off the market. As long as this continues, prices may struggle to move higher because sellers still have the upper hand.
CryptoQuant founder Ki Young Ju believes it is still too early to say that Bitcoin has reached its lowest point. He shared a log-scale chart and said previous market cycles followed a similar pattern. In each cycle, Bitcoin eventually moved close to its realized price before forming a lasting bottom.
Bitcoin Price Bottom Analysis | Source: Ki Young Ju Realized price is the average price paid by current holders. It is often watched because it has acted as support during past bear markets. According to Ki Young Ju, Bitcoin has not reached that level in this cycle. For that reason, he does not believe the market has confirmed a bottom.
He also admitted that every cycle can be different. Still, he said there is no strong sign yet that this time will break away from past market behaviour. For now, steady selling by large investors, weak market demand, and uncertainty over interest rates continue to weigh on Bitcoin. Until those conditions improve, many traders are likely to remain on the sidelines.
The post Coinbase Bitcoin Premium Index Falls as Market Demand Falls for 208 Days appeared first on The Coin Republic.
