Coinbase Bitcoin Premium Index has been negative for 48 consecutive days, setting a new record. Translation: U.S. institutional investors are consistently net selling. When the 'King of Understanding' took office, they hyped up the idea of 'U.S. market pumping the price,' but now the U.S. market has become the main dumping force. To put it bluntly, this rebound has nothing to do with U.S. demand. Once again, it's our futures longs + Asian buyers + retail investors silently bearing it all.