It seems that recently it has been foreign investors selling off at night, and Coinglass's Coinbase $BTC premium index is also showing negative.

Historical performance:

2020–2021 Bull Market Phase: The premium was long-term positive, indicating continuous buying by institutional funds (such as Tesla, MicroStrategy).

2022–2023 Bear Market Phase: The premium frequently turned negative, reflecting selling pressure and panic sentiment in the US market.

Is it negative again now? Are institutions entering the market?🥺