The BTC price action is at odds with the broader crypto market. Selling is seemingly more US based with a massive @coinbase premium of -$120s and more at times. Macro conditions are absolutely NOT conducive to risk but the BTC selling vs alts is unusual. Certainly possible alt sellers are exhausted since 10/10 but can’t help feeling we’re also seeing derisking among corporate players like miners who may be pivoting to AI. The last time premium was this great and sustained was July 2024 when Germany sold their btc.(CryptoCondom)