Bitcoin's Coinbase Premium Index has recorded its longest-ever 50-day consecutive negative premium according to Coinglass data, indicating institutions have been net sellers and US institutional demand has remained muted. The technical indicator's extended negative reading coincided with Bitcoin's Net Unrealized Profit/Loss (NUPL) 30-day exponential moving average crossing below its 100-day average on the 2nd of June, with the shorter-term metric at 0.155 and the longer-term at 0.215. These technical developments occur as Bitcoin trades at $63,148.36 following a nearly 7% weekly gain, though the cryptocurrency remains below the $80,000 level it reached in early May.
Coinbase Premium Index Records 50-Day Negative Streak
The Coinbase Bitcoin Premium Index has experienced the longest-ever 50-day consecutive negative premium according to Coinglass data. This indicates that institutions have been net sellers rather than aggressive buyers, or that institutional demand in the United States has been muted for a long time. A protracted negative premium frequently indicates short-term market weakness and cautious sentiment.
Bitcoin NUPL Shows Bearish Crossover on June 2nd
The short-term average of Bitcoin's Net Unrealized Profit/Loss (NUPL) crossed below the longer-term average on the 2nd of June according to CryptoQuant data. The 30-day EMA was at 0.155 and the 100-day EMA stood at 0.215 at the time of the crossover. Both averages remain above zero, indicating that the average holder is still making money. At each significant bear market bottom in history, including 2011, 2015, 2018, and 2022, Bitcoin's 100-day NUPL EMA dropped below zero. This cycle, the indicator stays above zero.
Bitcoin Trades at $63,148 With 7% Weekly Gain
BTC was trading at $63,148.36 at press time, having increased by nearly 7% over the previous week. The cryptocurrency has yet to surpass the $80k level that it reached in early May. The MACD showed strength with green histograms suggesting bullish momentum, while the RSI was displaying a bearish signal according to Trading View data. The squeezed Bollinger bands confirmed price momentum patterns.
Bitcoin ETFs Reverse Eight-Week Outflow Streak
Bitcoin ETFs are exhibiting inflows following an eight-week outflow streak according to Farside Investors data. The reversal in ETF flows represents a shift in institutional investment patterns after two months of consecutive outflows.
Analysts Identify $48,000-$50,000 Liquidity Zone
An analyst is eyeing a significant liquidity zone between $48,000 and $50,000 according to Coinglass liquidity heatmap data, where a significant concentration of stop-losses and liquidation orders is probably found. Benjamin Cowen, a former NASA researcher, noted that Bitcoin is off to a good start in July 2026. Long-term holders (LTHs) remain resilient despite three straight quarters of losses.
FAQ
What does Bitcoin's 50-day negative Coinbase Premium Index indicate?
The longest-ever 50-day consecutive negative premium on the Coinbase Bitcoin Premium Index indicates that institutions have been net sellers rather than aggressive buyers, or that institutional demand in the United States has been muted for a long time according to Coinglass data.
When did Bitcoin's NUPL show a bearish crossover?
Bitcoin's Net Unrealized Profit/Loss (NUPL) 30-day exponential moving average crossed below its 100-day average on the 2nd of June, with the 30-day EMA at 0.155 and the 100-day EMA at 0.215 according to CryptoQuant data.
What is Bitcoin's current trading price and recent performance?
Bitcoin was trading at $63,148.36 at press time, having increased by nearly 7% over the previous week, though it remains below the $80,000 level it reached in early May.
