Indeks Premi Bitcoin Berulang Kali Berjuang, Seperti Apa Fluktuasi Sentimen Pasar AS?

【Block Rhythm】Bitcoin’s recent performance in the US market is quite interesting. On January 7th, according on-chain data, a leading compliant trading platform’s Bitcoin premium index suddenly turned negative, dropping to -0.0277%. This shift came quite quickly—just the day before, it had rebounded from negative premium to 0.011%, which was the first positive turn after 22 consecutive days.

Speaking of this premium index, it essentially tracks the price difference of Bitcoin on a leading compliant trading platform relative to the global market average price. In other words, it’s a window into observing what US capital is doing.

What does positive premium mean? It means the coin price on the platform is higher than the global average price, usually representing several scenarios: US buyers are highly enthusiastic, institutions and compliant capital are actively deploying, or dollar liquidity is abundant and market sentiment is optimistic. This is often the rhythm of institutions quietly building positions.

What about negative premium? It’s the opposite—the platform coin price is lower than the global average price. This typically reflects apparent selling pressure in the US market and declining risk appetite among investors. Sometimes it also indicates rising risk-averse sentiment or capital flowing out.

From this recent back-and-forth, market sentiment is indeed swinging. The 22 days of negative premium suddenly turning positive only lasted one day, and now it’s back to negative values. This tug-of-war quite clearly illustrates the problem—the buying and selling forces in the US market are repeatedly contending without forming a clear directional consensus. This data is still worth paying attention to for those wanting to track institutional movements and market sentiment.