Holy crap, retail investors are quitting, and institutions are starting to withdraw too? Coinbase's premium has been negative since September 23rd, and its 30-day average discount has fallen to its deepest level since February. The willingness to buy Bitcoin in the US market is weakening, while there's a persistent shortage of buyers to absorb the selling pressure. US spot Bitcoin ETFs saw net outflows of $515 million in October, and another $1.88 billion in the first half of November, totaling over $2.3 billion in two months. Previously, when the market fell, Wall Street ETF funds would step in to buy, but now even this incremental capital is withdrawing.