Bitcoin Holds Strong Above $80,000, Coinbase Bitcoin Premium Index and Fund Flows Signal Potential Pullback Trend

BlockBeats News, May 7th, according to Coinglass data, despite Bitcoin recently holding above $80,000, Coinbase's Bitcoin premium index has turned negative. For most of April, the Coinbase Bitcoin premium index remained positive.

Furthermore, the IFP index, which reflects market participants' risk appetite and fund flow direction, has dropped below the 90-day moving average, indicating a certain degree of Bitcoin moving from derivative exchanges back to spot exchanges. This suggests a weakening speculative interest and risk aversion, typically associated with bearish sentiment/risk-aversion.