just saw the coinbase premium gap chart… and yeah, this sucks.. we’re in the longest negative streak since nov 2024. basically, btc is trading cheaper on coinbase (US) than on binance/global. that means US side.. mostly institutions, ETFs, regulated money have been net sellers for weeks. and it’s not just a random day. > $12B ETF outflows in last 90 days with, – nov: $7B – dec: $2B – jan: $3B that lines up perfectly with the premium staying negative. indicates that the US institutional money has been in risk-off mode. steady distribution, not panic just consistent selling.