Coinbase Premium negative for 40 consecutive days, institutional selling pressure hasn't stopped, PCE surged again, making it even harder for the Fed to cut rates now, risk assets are under immense pressure.

Crypto community news says that the Coinbase Premium Index has been negative for 40 consecutive days, indicating increasing selling pressure from institutions on Bitcoin. CryptoQuant analyst Darkfost pointed out that selling pressure from professional and institutional investors has not eased, and it has been difficult to return to positive territory since mid-May. PCE rose: overall 4.1%, core 3.4%, the highest since April 2023, attributed to the US-Iran conflict pushing up inflation, curbing easing, and suppressing risk assets. GDP grew 2.1%, making it harder for the Fed to respond.