$BTC's Coinbase Premium as gone into the negative recently. This shows there's been a lot of spot selling the past few days, which has been clear looking at the large ETF outflows and bearish price action.

For BTC to bounce back strong, you'd want the Coinbase Premium to return as spot bids it back up.

Currently, the premium is trying to return after this bounce. Will monitor to see if that trend continues.

Negative Coinbase Premium indicates recent spot selling pressure on $BTC. Monitoring the return of premium for potential bounce back. Spot bids are crucial for bullish momentum.