The Bitcoin price below $90,000 is under imminent threat after the collapse of the Coinbase Premium Gap. Analyst Mignolet warned that US investors are exerting strong selling pressure on the digital asset. This negative trend arises at a time of macroeconomic uncertainty and global trade tensions.
The gap indicator between exchange platforms recently recorded its lowest level in the last twelve months. This metric averaged approximately -63.85 points, which reflects that buying interest in the US has disappeared. It is essential to note that this situation usually precedes significant drops in the market valuation.
And the phenomenon occurred during a holiday in the United States financial markets, while ETFs were inactive. Therefore, the liquidation does not come from institutional funds, but from large whales operating on an independent basis. Thus, the market faces a scenario where local demand fails to sustain the price.
The negative gap in the US market anticipates a possible severe technical correction
Furthermore, the daily chart of the leading cryptocurrency shows the formation of a rising wedge suggesting a bullish exhaustion. This technical pattern is known to indicate a loss of conviction in current purchases. While prices are hitting higher lows, the structure is narrowing dangerously downwards.
On the other hand, the Trump administration’s tariff tensions have generated a drastic shift in global risk sentiment. Investors are rotating their capital towards safe-haven assets such as gold and silver, which is why Bitcoin suffers. As Nasdaq futures fall, the appetite for volatile assets decreases dramatically.
Could the eighty thousand dollar support stop the current bearish sentiment?
However, the loss of wedge support could accelerate sales toward the established demand zone. Technical analysts estimate that the downside target lies between seventy-eight thousand and eighty thousand dollars. So it is vital to monitor if selling pressure on Coinbase continues to deepen.
Likewise, the immediate future will depend on the ability of bulls to recover the key support zone. If the bearish sentiment persists, investors should prepare for extreme volatility in the coming weeks. In the end, the reactivation of institutional demand will be decisive to avoid a further market pullback.
