[Analyst: Coinbase Bitcoin Premium Gap Indicator Drops to Nearly One-Year Low Due to U.S. Whale Holiday Sell-Off] Odaily Planet Daily News – Analyst Mignolet stated that the Coinbase Premium Gap (CPG) indicator has hit a nearly 12-month low, driven by sell-offs from U.S. whales during the U.S. market holiday period, rather than Bitcoin spot ETFs. Data shows that the current 30-day average CPG for Bitcoin has dropped to approximately -63.85, the lowest level since January 2025, indicating that selling pressure from U.S. investors is stronger than that of the global market. The CPG primarily tracks the price difference between the Bitcoin/USD trading pair on Coinbase and the BTC/USDT trading pair on Binance. On the technical side, Bitcoin's daily chart has formed an ascending wedge pattern, which increases the risk of a price decline, potentially dropping to around $80,000. (Cointelegraph)