As BTC price declines to 103,500 USD, the Bitcoin Coinbase Premium Index has fallen into negative territory, reflecting bearish sentiment in the market. The latest trading data shows significant taker sell volume surpassing 4 billion USD.
Despite the current downturn, the RSI shows a low value akin to April’s, suggesting a potential recovery. Observing the 200-day EMA is crucial as any sustained trades below this level may accelerate further declines.
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