Bitcoin’s Coinbase Premium Index Turns Negative Amid CPI Concerns
- The Coinbase premium index is negative, indicating selling pressure from US investors.
- US Bitcoin ETFs experienced two days of net outflows totaling $243 million.
- BlackRock’s IBIT fund recorded $59 million in inflows despite the overall negative trend.
- Bitcoin briefly dipped below $95,000 before recovering to around $95,800.
- Economists expect January’s CPI to show a headline inflation rate of 2.9%.
The negative Coinbase premium index suggests US investors are selling Bitcoin, aligning with recent outflows from US Bitcoin ETFs. Despite this trend, BlackRock’s IBIT fund saw significant inflows of $59 million. Economists anticipate January’s CPI to reflect a 2.9% inflation rate.
Source (2.6)https://cryptobriefing.com/bitcoin-negative-coinbase-premium/?rand=59535
