The cryptocurrency fell 6% intraday to $85,653, contributing to a more than 5% decline in total crypto market capitalization to $2.92 trillion.
Fresh data shows the Coinbase Bitcoin Premium Index flipping negative again. The indicator measures whether BTC is trading higher or lower on Coinbase compared with offshore exchanges. A negative reading typically suggests weaker buying activity from U.S. investors.
💥BREAKING:
Coinbase premium index flips negative again. pic.twitter.com/Rt7D6qvbmc
— Crypto Rover (@cryptorover) December 1, 2025
The chart shared today shows the premium moving into deeply negative territory throughout November, briefly turning positive near the $95,000 region before slipping back below zero during the latest market selloff. Historically, extended negative premiums have aligned with periods of elevated selling or reduced institutional inflows from U.S. trading desks.
On December 1, Peter Brandt reiterated his short-term bearish view in a technical post on X. He referenced a long-term logarithmic Bitcoin chart and pointed to the upper level of a support zone beginning below $70,000. According to his interpretation, Bitcoin could still decline within that zone before finding major support.
Not to bust anyone's banana, but the upper boundary of the lower green zone starts at sub $70s with lower boundary support in the mid $40s.
How soon before Saylor's Shipmates ask about the life-boats? $BTC pic.twitter.com/YLfjSDdw9H— Peter Brandt (@PeterLBrandt) December 1, 2025
Brandt mapped the lower part of this region to the mid-$40,000 area and added that forced selling from institutions and companies holding BTC could intensify the move if risk sentiment continues to deteriorate.
Last month, his support projections of $81,000 and $58,000 gained attention after Bitcoin dropped below both $100,000 and $81,000 soon after his post.
While Brandt expects further downside, he has repeatedly clarified that his long-term outlook on Bitcoin remains positive. He continues to view the broader multiyear trend as intact, despite the current correction phase.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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