Bitcoin Faces US Investor Cooldown Ahead of $90,000 Target 📉

Bitcoin's price has seen a notable decline over the last few days, dropping 6% to a current trading price of $92,540. This dip has resulted in reduced trading activity among US-based investors, particularly as Bitcoin faces strong resistance at the $99,000 price zone.

Data from CryptoQuant reveals a decline in Bitcoin's Coinbase Premium Index, now at a seven-day low of -0.01. This index measures the price difference of Bitcoin between Coinbase and Binance, highlighting trading activities of institutional and US-based investors.

A negative value in the Coinbase Premium Index suggests that Bitcoin's price is lower on Coinbase compared to Binance, indicating weaker demand or increased selling pressure from US-based investors. The Coinbase Premium Gap has also fallen sharply, reaching a negative level of -10.

On Bitcoin's daily chart, the Parabolic Stop and Reverse (SAR) indicator signals a continued downtrend, with dots appearing above the price for the first time since early November. This downtrend poses a risk of breaking Bitcoin's support level at $88,630, potentially falling to $80,159.

If, however, market sentiment were to become more positive, resuming buying activity could enable Bitcoin's price to reclaim its recent highs around $99,419.