Bitcoin has fallen for 7 consecutive days with negative premiums. Are there signs of selling pressure in the US market?

According to Coinglass data from December 21, the price of Bitcoin on a leading compliance trading platform has been in a negative premium state for 7 consecutive days, currently reported at -0.044%.

Many people may be unfamiliar with this index. In simple terms, this premium index is used to measure the difference between the Bitcoin price on a leading compliance trading platform and the global market average price. It is actually an important window for observing the flow of funds in the U.S. market, institutional investment enthusiasm, and changes in market sentiment.

From the data performance perspective, the market significance represented by positive and negative premiums is completely different. When the index shows a positive premium, it indicates that the Bitcoin price on this platform is higher than the global average price. What does this usually signify? The buying pressure in the US market is strengthening, which may indicate that institutions or compliance funds are actively positioning themselves, while the dollar liquidity is ample and investors' sentiment is relatively optimistic.

Conversely, when the index has a negative premium - as it is now - it means that the platform price is lower than the global average price. This often reflects an increasing selling pressure in the US market, a decline in investors' risk appetite, a prevailing risk-averse sentiment in the market, or capital flowing out.

The continuous negative premium for 7 days is indeed worth paying attention to, indicating that the funding and sentiment in the US market may be under pressure recently.