📰 【Bitcoin firmly holds at $80k, Coinbase Bitcoin premium index and capital flow indicate a correction trend】

BlockBeats news, May 7th, according to Coinglass data, despite Bitcoin recently remaining strong at $80k, the Coinbase Bitcoin premium index has started to turn negative. And for most of April, the Coinbase Bitcoin premium index stayed in positive territory. Additionally, the IFP index, which reflects market participants' risk appetite and capital flow direction, has fallen below the 90-day moving average, to some extent indicating Bitcoin is flowing back from derivatives exchanges to spot exchanges, suggesting reduced speculative interest and risk aversion, which usually corresponds to bearish/risk-averse sentiment.
$BTC This wave of $80k looks pretty fierce, but seasoned traders know what a negative Coinbase premium means. Big players are pushing prices up while offloading, moving coins from derivatives exchanges to spot markets—this is a classic pattern of cashing out and running. Every time I see this kind of data, I want to curse; retail traders are still shouting about a bull return, but smart money has already rotated at the high. Don’t rush to chase; wait for this correction to wash out before acting. Otherwise, do you think $80k is a solid bottom? 👇👇👇👇👇