Bitcoin is showing signs of life again. After several days of heavy selling, the price has climbed back above a key resistance level. But even with this rebound, data shows that U.S. institutional investors are still selling more aggressively than everyday traders.
A big part of this comes from the Coinbase Premium Index—a metric that compares Bitcoin prices on Coinbase and Binance. Analyst Darkfost points out that the index is still negative. That means Bitcoin is being sold cheaper on Coinbase, which is mostly used by U.S. institutions and professional traders. Meanwhile, Binance, which is more popular with retail users, isn’t seeing the same kind of pressure.
One major reason for the selling? Continued outflows from Bitcoin spot ETFs. These outflows have been draining demand, pushing institutions to sell into the market.
The heaviest institutional selling happened around November 21, when the Coinbase Premium Index dropped sharply into negative territory. During that time, bigger players were selling much more aggressively than retail traders, driving Bitcoin closer to its recent lows.
The good news is that while the index is still negative, the selling pressure has softened. It hasn’t flipped positive yet, but the trend is moving in the right direction.
So what’s happening with the chart?
Bitcoin recently bounced off the 200-day moving average on the three-day chart—a level that has acted as strong support during past corrections. This rebound pushed the price back toward a nearby resistance zone.
Still, there are signs of weakness. Bitcoin remains below the 50-day and 100-day moving averages, both of which are now sloping downward. And the volume during the sell-off was higher than the volume during the bounce, which suggests sellers were more aggressive than buyers.
After falling sharply from its October all-time high, traders are now watching closely:
Is this just a short-term bounce?
Or the start of a real recovery?
For now, the market is waiting for clearer signals.
