US Investors Drive Unprecedented 20-Day Buying Spree

Bitcoin markets are exhibiting rare divergence as sustained Coinbase premium coincides with price declines. The Coinbase Premium Index (CPI) has maintained positive territory for 20 consecutive days - the longest streak recorded in 2025. This anomaly suggests robust institutional and retail demand from US investors continues absorbing selling pressure, with【8,742 BTC】flowing out of Coinbase custody on May 26 alone.

Supply Squeeze Emerges as Holders Resist Selling

CryptoQuant data reveals declining BTC inflows to Binance from both short-term (STH) and long-term holders (LTH). Current exchange deposits of【8,000 BTC】pale compared to the【14,000 BTC】dumps during April's tariff panic. ——This supply contraction creates fundamental support for prices—— notes analyst Axel Adler Jr., observing STH profit-taking remains 37% below previous cycle peaks.

Technical Patterns Signal $118K Breakout Potential

The 1-hour chart shows Bitcoin forming a descending triangle with support between $104K-$106K. A developing bullish RSI divergence suggests weakening downward momentum. Market technician Burak Kesmeci identifies the $107K level as critical: "A liquidity sweep below trendline followed by rebound could trigger 11% surge targeting $118K by mid-June."

Institutional Activity Mirrors Early Bull Market Patterns

The third-largest Coinbase outflow this month coincides with spot ETF accumulation periods. Historical data shows similar 2024 outflows preceded corporate BTC purchase announcements. ——We're seeing textbook institutional accumulation—— observes a CryptoQuant researcher, noting current demand could sustain the bull run absent macroeconomic shocks.

As of publication, Bitcoin maintains position above key support despite 6% weekly decline. Market participants await either breakdown confirmation or the anticipated bullish reversal, with on-chain metrics and technicals painting conflicting short-term pictures.