US Bitcoin Traders Turn Bearish: Is $90K Support at Risk?
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Bitcoin faces rising downside risk as macro pressure and weak technicals point to a possible drop toward $80,000 on a rising-wedge breakdown.
Bitcoin witnessed its lowest Coinbase Premium Gap (CPG) in a year, a sign that US-based investors were applying strong selling pressure relative to global markets.
US selling pressure spiked as the Coinbase Premium Gap hit a one-year low during a market holiday.
$80,000 downside risk grows if Bitcoin breaks down from its rising-wedge pattern.
Holiday selling a bad omen for BTC price
As of Monday, Bitcoin’s 30-day average CPG fell to about −63.85, its lowest level since January 2025. That reading preceded a BTC price drop to roughly $78,350 from above $102,000 in just four months.
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