Bitcoin remains under pressure despite a $5,000 rebound from its July low of under $58,000. The Coinbase Bitcoin Premium Index has been negative for a record 50 consecutive days, indicating weak U.S. demand. Macro factors include renewed US-Iran hostilities and the Federal Reserve’s refusal to cut rates, with some officials considering hikes. Strategy sold over 3,500 BTC this week. Bitcoin ETFs lost over $8 billion in cumulative flows over two months. These five factors have halted each major breakout attempt.
Bitcoin has rebounded by $5,000 since its July 1 low at under $58,000, but remains in a highly pressured market structure. Multiple factors have aligned to keep it suppressed.
Macro conditions worsened when the US and Iran broke a ceasefire and initiated new attacks. A new wave of attacks followed earlier this morning before Trump claimed Iran wanted a peace deal but no deal has been reached.
The Federal Reserve continues to refuse to lower interest rates. Recent reports indicated that several Fed officials considered raising rates, citing rising oil prices and inflation from the war.
From the corporate side, Michael Saylor’s Strategy has sold bitcoin twice in the past two months. The latest sale, announced this week, was for over 3,500 units.
Bitcoin ETFs have lost over $8 billion from total cumulative flows in just two months. Some weekly numbers set anti-records with over $1.5 billion leaving in five trading days.
The Coinbase Bitcoin Premium Index, which measures the difference between BTC on the largest US exchange and the global average, has been negative for a record 50 consecutive days. Recent data provided by Wu Blockchain noted that “the Coinbase Bitcoin Premium Index has remained negative for 50 consecutive days since May 19, extending the longest negative streak since the indicator was launched.”
The previous anti-record was also in 2026, a 40-day streak from January 16 to February 24. Once that flipped, BTC went from $64,000 to $76,000 in about a month.
