Bitcoin Nears $75,000 as Coinbase Premium Index Sinks to -160 on 7 Days of ETF Outflows
Updated
Updated · CoinDesk · May 27
Bitcoin Nears $75,000 as Coinbase Premium Index Sinks to -160 on 7 Days of ETF Outflows
3 articles · Updated · CoinDesk · May 27
Bitcoin hovered near $75,000, but the Coinbase Bitcoin Premium Index fell to -160—its weakest reading since early February, when the token last bottomed near $60,000.
The drop points to weakening U.S. demand because the index measures Coinbase prices against the broader global market and is closely watched as a gauge of institutional flows and sentiment.
Spot Bitcoin ETFs have now logged seven straight trading days of outflows, adding pressure as investors pull money from one of the market’s main demand channels.
A reported $1.29 billion dark-pool sale of BlackRock’s bitcoin ETF reinforced that weakness, suggesting large holders were cutting exposure even as bitcoin tried to reclaim higher levels.
With U.S. Bitcoin demand falling, is the crypto market's center of gravity shifting globally?
The market absorbed a $1.3B Bitcoin sale amid extreme fear. Is this resilience or the calm before a crash?
As institutions flee Bitcoin ETFs, are regulated stablecoins becoming their new crypto safe haven?