Crypto: Bitcoin Coinbase Premium Stays Deeply Negative: Is $66k BTC Price...

Bitcoin dipped below $87,000 as the Coinbase Premium hit 12-month lows, signalling weak US demand and with technicals hinting at a $66,000 BTC price target.

Bitcoin (BTC) extended its weakness into the low-liquidity weekend trading session, with BTC slipping to a five-week low of $86,000 on Sunday. The cryptocurrency could potentially retest its macro low of $66,000 over the coming weeks, a key support level from November 2024.

Bitcoin dropped below $87,000 on Sunday as its momentum weakened.

The Coinbase Premium hit a 12-month low, reflecting strong US spot Bitcoin selling pressure.

Bitcoin’s bearish setup targets a $66,800 BTC price.

The Bitcoin Coinbase Premium Index, which tracks the price difference between BTC on Coinbase and Binance, flipped red in mid-December 2025, dropping as low as -0.17. The last time the index was this low was in December 2024.

Related: BTC price 'bottoming phase' ends: Five things to know in Bitcoin this week

Even during short-term rebounds, BTC trades at a steady discount on Coinbase versus other major exchanges. The index has stayed negative for more than five weeks now (see the chart below).

“The Coinbase Premium continues to drop sharply and widen, indicating significantly stronger BTC selling pressure on Coinbase compared to other exchanges,” derivatives data provider CoinGlass said in an X post on Monday.

The Coinbase Premium Index is “firmly below zero, showing continued sell pressure from U.S. spot flows,” CryptoQuant analyst TeddyVision said in a recent QuickTake analysis.

Source: CoinTelegraph