Bitcoin Price Stagnant Amid Persistent Selling Pressure

The Bitcoin market continues to face challenges in pushing above the $66,000 level, as bears maintain short-term control while buyers show limited conviction.

A recent report from CryptoQuant has provided insight into the underlying market positioning through the Coinbase Premium Gap metric. This indicator measures the price difference between Coinbase Advanced and Binance, and its return to positive territory for the third time this year suggests a gradual improvement in institutional demand.

However, the modest size of the premium indicates that conviction is still limited, leaving Bitcoin in a cautious transitional phase. The report notes that since February 4, when Bitcoin entered a more pronounced corrective phase, the Coinbase Premium Gap has gradually recovered after an extended period of weakness.

The current premium is relatively modest, indicating that institutional conviction has not fully returned. Nevertheless, the gradual recovery suggests that current price levels may increasingly be perceived as attractive entry zones for professional investors, particularly those with longer investment horizons.