Bitcoin Updates Today: Bitcoin Drops for 27 Consecutive Days as U.S. Institutions Lead Over International Investors

Coinbase Bitcoin Premium Index Remains Negative for 27 Days

The Coinbase Bitcoin Premium Index has now recorded 27 straight days in negative territory, highlighting ongoing selling activity from U.S. institutional investors even as overall market volatility has shown signs of calming.

As of November 26, the index registered at -0.0515%. This figure points to a persistent gap between Bitcoin prices on Coinbase—a leading U.S. exchange—and the global average, marking the longest negative streak in the current cycle. Such a trend reflects continued capital outflows and waning confidence among American institutional participants.

Understanding the Premium Index

This index serves as a key indicator of institutional sentiment and capital movement within the U.S. crypto market. A positive premium typically signals robust buying interest, while a negative reading often suggests risk aversion, reduced liquidity, or heightened selling pressure.

Analysts have observed that this extended period of negative premiums coincides with Bitcoin’s price falling from nearly $120,000 to about $84,500, as institutional selling has outpaced global demand. CryptoQuant CEO Ki Young Ju recently noted an hourly premium of -0.06, underscoring the subdued appetite from U.S. institutions. At the same time, open interest in Bitcoin derivatives has climbed sharply—from under 20,000 contracts in late October to 70,000—indicating a rise in bearish bets.

ETF Outflows Intensify Downward Pressure

The negative premium has been further aggravated by unprecedented outflows from Bitcoin ETFs, which saw $3.79 billion withdrawn in November alone. BlackRock’s iShares Bitcoin Trust (IBIT) led these redemptions, accounting for $2.47 billion, or 63% of the total. Analysts attribute this trend to profit-taking after Bitcoin’s October rally and broader economic uncertainty, particularly regarding potential interest rate changes in December.

In contrast, Solana ETFs have attracted $531 million in new investments, thanks in part to attractive staking returns and lower fees.

Weekend Relief and Weekday Pressure

Brief pauses in trading over weekends have occasionally eased the negative premium, as the index tends to revert toward its average when U.S. sellers are less active. However, institutional activity during the week quickly restores downward pressure, emphasizing the influence of domestic investors on Bitcoin’s short-term movements. Market watcher CryptoCondom has pointed out that while weekends often bring temporary recoveries, weekday selling remains the main force behind the ongoing decline.

Outlook and Institutional Sentiment

Experts caution that a shift in the Coinbase Premium Index is essential for Bitcoin to establish a lasting bottom. Historically, significant trend reversals have occurred when the premium returns to neutral or positive levels, signaling renewed institutional interest. Until such a shift happens, any rebounds are expected to be short-lived as U.S. selling continues.

Meanwhile, Cathie Wood’s Ark Invest, though optimistic about growth driven by artificial intelligence, has revised its Bitcoin price target down to $1.2 million by 2030, citing ongoing macroeconomic challenges.

Market at a Crossroads

The broader crypto market faces a difficult period, with ETF outflows and negative premiums reinforcing a bearish outlook. Institutional caution and shrinking liquidity have intensified price volatility, creating a feedback loop of selling and declining values. As the year draws to a close, investors will be watching closely for signs of stabilization in both the premium index and ETF flows, which could indicate a potential end to the current downturn.