US Bitcoin Traders Flip Bearish: Is BTC Price at Risk of Losing $90K?

Why It Matters

The confluence of record US selling pressure and a technical bearish pattern threatens Bitcoin’s near‑term price stability, potentially reshaping crypto market sentiment and liquidity dynamics.

Key Takeaways

• Coinbase Premium Gap hits one‑year low
• US whales sell heavily during holiday
• Rising wedge suggests possible break below $90K
• Downside target projected $78‑80K
• Safe‑haven assets rise as Bitcoin sells

Pulse Analysis

The Coinbase Premium Gap (CPG) has slipped to –63.85, the deepest negative reading since January 2025, signalling that Bitcoin trades at a discount on Coinbase relative to Binance’s USDT market. This divergence is a reliable barometer of US‑based selling pressure, because a negative CPG means domestic investors are offloading Bitcoin faster than offshore traders. The dip occurred during a U.S. market holiday when spot Bitcoin ETFs were closed, highlighting that the sell‑off originated from large‑scale US whales operating outside regulated funds. Analysts see the gap as an early warning of broader market weakness.

Technical charts reinforce the bearish signal. Bitcoin’s daily price has formed a rising wedge, a pattern where higher lows are squeezed between converging trendlines, often preceding a downward breakout. The narrowing momentum suggests that buying conviction is eroding even as the price makes incremental gains. If the wedge’s support fails, historical precedent points to a rapid slide toward the $78,000‑$80,000 zone, a level that previously acted as strong resistance. Combined with a deepening CPG, the technical outlook raises the probability of a breach below the psychologically important $90,000 threshold.

The shift in sentiment extends beyond crypto charts. While gold and silver rallied, indicating a flight to safety, U.S. futures slipped after President Trump’s renewed tariff threats toward the European Union, adding macro‑political pressure on risk assets. Spot Bitcoin ETFs remained inactive during the holiday, removing a potential source of liquidity and amplifying the impact of whale‑driven trades. Investors should monitor CPG movements and ETF activity as leading indicators; a sustained negative gap could accelerate the sell‑off, whereas a rebound may signal the start of a new accumulation phase.