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Bitcoin News Update: Ongoing Withdrawal of U.S. Institutions Drives Bitcoin Premium to 25 Consecutive Days in the Red

Bitcoin News Update: Ongoing Withdrawal of U.S. Institutions Drives Bitcoin Premium to 25 Consecutive Days in the Red

Bitget-RWA2025/11/24 05:38
By:Bitget-RWA

- Coinbase's Bitcoin premium index hits 25-day negative streak (-0.0509% as of Nov 2025), reflecting U.S. selling pressure and ETF outflows. - BlackRock's IBIT sees $523M single-day redemptions, part of $3.79B monthly exodus from U.S. Bitcoin ETFs, exacerbating market weakness. - Bitcoin falls 36% from October peak to $84,000, while Coinbase acquires Solana-based Vector to expand DEX offerings amid market turmoil. - Analysts debate implications: $238M ETF inflow seen as potential capitulation, but structur

The

Premium Index has now experienced an unprecedented 25 consecutive days in negative territory, with the latest figure at -0.0509% as of November 2025. This sustained negative trend points to ongoing selling momentum in the U.S. and has sparked worries about institutional and ETF withdrawals. The index, which tracks the price gap between Bitcoin on Coinbase and the global average, has stayed below zero since the start of November, and a shift in risk preferences among American investors. This extended negative streak aligns with Bitcoin’s price decline, which from its October high to roughly $84,000, making this its weakest monthly showing since June 2022.

To illustrate the situation,

Bitcoin News Update: Ongoing Withdrawal of U.S. Institutions Drives Bitcoin Premium to 25 Consecutive Days in the Red image 0
this chart helps readers visualize the extent and persistence of the negative premium period.

The negative premium has been worsened by unprecedented outflows from Bitcoin ETFs, especially BlackRock’s

(IBIT), which — the largest since its inception — and more than $2.47 billion in redemptions throughout November. These withdrawals, part of a $3.79 billion monthly outflow from U.S. spot Bitcoin ETFs, have intensified the downward pressure on spot prices. to profit-taking by long-term holders, the unwinding of leveraged trades, and uncertainty about potential Federal Reserve rate cuts. “This is a tactical portfolio adjustment, not a permanent exit from crypto,” Bitfinex analysts commented, despite the recent downturn.

Coinbase’s challenges go beyond the premium index. The platform recently

of Vector, a Solana-based onchain trading platform, to strengthen its DEX offerings and tap into Solana’s projected $1 trillion DEX volume in 2025. However, this move comes as Bitcoin endures its worst month since 2022, with amid a broader market downturn. At the same time, in Bitcoin and $117 million in to Coinbase Prime, showing that institutions continue to use the platform despite the outflows.

Analysts remain split on what the negative premium means for the market. Some interpret the recent $238.4 million inflow into Bitcoin ETFs on November 22 as a possible capitulation event, similar to patterns seen at previous market bottoms.

in realized Bitcoin losses that day—the highest since March 2023—while open interest in futures contracts climbed to 70,000, suggesting an increase in short bets. Others warn that a return of the premium to neutral or positive is essential for a lasting turnaround. that as long as U.S. institutional selling continues, downside risks persist, and global buyers have not yet absorbed the excess supply.

The weekend break in trading has brought some short-term relief, with the premium showing signs of mean reversion as ETF activity slows. However, selling pressure quickly returns during the week, highlighting the influence of U.S. institutional flows on Bitcoin’s short-term direction.

$8 billion of Friday’s $11.5 billion ETF trading volume, the market remains fragile.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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