Bitcoin Plunges Below $100K Despite Positive Coinbase Premium Signal

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,846,041,751,161	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,846,041,751,161

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-2,477.58	-2.61%	92,575.53	92,560.15	92,565.97

Price Change

Price Change %

Current Price

Bid Price

Offer

-2,477.58

-2.61%

92,575.53

92,560.15

92,565.97

High Price	Low Price	Open Price	Prev. Close	52 Week Range
95,363.26	91,750.00	94,979.98	95,053.11	38,501.00 - 108,388.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

95,363.26

91,750.00

94,979.98

95,053.11

38,501.00 - 108,388.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	17:51:17	0.000027	92,575.53	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

17:51:17

0.000027

92,575.53

USD

Price x Volume	Volume	Base Symbol	Related Pairs
728,570,984.31	7,789.18	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

728,570,984.31

7,789.18

Bitcoin Plunges Below $100K Despite Positive Coinbase Premium Signal – What’s Next?

08/01/2025 9:00am

NEWSBTC

Bitcoin (BTC) has seen bullish but unsteady price action in early 2025, with recent data highlighting shifting sentiment among US investors. After briefly crossing the $102,000 mark yesterday, the asset has struggled to maintain upward momentum, shedding most of its recent gains as it stands at just below $100,000. These developments coincide with critical insights from key on-chain metrics that offer a clearer view of Bitcoin’s short-term trajectory. Related Reading: Bitcoin Forms First Daily Death Cross On Dominance Chart In 4 Years, What To Expect Next Bitcoin’s Price Struggles Despite Positive Coinbase Premium Index Signal A CryptoQuant analyst known as Burak Kesmeci recently shared insights on the Coinbase Premium Index (CPI), which turned positive for the first time in 2025. The CPI measures the price difference between Bitcoin on Coinbase and other global exchanges, serving as a crucial indicator of US investor sentiment. 3 days ago, Coinbase Premium Index crossed SMA14 for the 1st time in 26 days—Bitcoin is now up 4% to $102K. In Nov 2024, a similar move saw Bitcoin rally from $69K to $108K. U.S. buyers could be back in action. pic.twitter.com/XtAlHUzzvv — CryptoQuant.com (@cryptoquant_com) January 6, 2025 Alongside this positive shift, a notable 4,012 BTC outflow from Coinbase was recorded, signaling renewed buying interest among US-based investors. Historically, such patterns have been associated with a rise in buying pressure, often laying the groundwork for potential price surges. Despite these positive signals, Bitcoin’s price performance remains restrained. After briefly surpassing $102,000 on December 6, Bitcoin retreated and now trades below $100,000, reflecting a modest 3.3% decrease over the past 24 hours. This price mark from the largest cryptocurrency by market capitalization puts it at approximately 8.9% below its all-time high of $108,135, achieved in December 2024. Bitcoin Faces Key Resistance Levels Notably, the current price action from BTC suggests that while buying pressure exists, it may not yet be sufficient to trigger another strong rally. According to cryptocurrency analyst Ali, Bitcoin maintains a critical support zone between $95,400 and $98,400, where over 1.77 million addresses collectively hold 1.53 million BTC. Related Reading: Bitcoin’s Miner Sentiment Signals: Are We Nearing a Market Rebound? This support zone remains essential for stabilizing Bitcoin’s price amid market uncertainty. Conversely, resistance appears limited, with only 107,000 BTC supply positioned between $104,700 and $105,770. This relatively thin resistance could pave the way for upward movement if buying pressure intensifies. #Bitcoin sits well above an important support zone between $95,400 and $98,400, where 1.77 million addresses bought over 1.53 million $BTC. However, there isn’t significant resistance ahead, only a minimal supply wall of 107,000 #BTC between $104,700 and $105,770. pic.twitter.com/MEATFegTV2 — Ali (@ali_charts) January 7, 2025 Meanwhile, zooming out, analysts remain bullish overall on Bitcoin. Captain Faibik for instance has recently shared his outlook on BTC suggesting that the asset is still poised for a rally to $112,000. Featured image created with DALL-E, Chart from TradingView

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