Over the past two months, the Coinbase Premium Index has never turned positive once. That means throughout the entire process of BTC dropping from 82.5K to 62K, US institutions haven't made any decent bottom-fishing capital inflows. The red line rebounding from -0.18 to -0.06 in early July was the most significant recovery in these 60 days. But these days it's still fluctuating, uncertain whether it's a turning point or a dead cat bounce. Continue observing.