The Bitcoin Coinbase Premium Index has deteriorated sharply into deeply negative territory, dropping to -0.17 as U.S.-based spot demand cools off. With BTC teetering just below the $80k threshold at around $79.9K, this widening discount echoes earlier setups that preceded prolonged sell-offs, suggesting the market may need to brace for continued downside risk rather than an immediate relief rally.

Written by nino