#数字资产市场动态 Recently, there is a phenomenon worth pondering—Bitcoin prices on a leading compliant platform have been continuously falling below the global average for three days in a row. Even more interesting, over the past month, there have been twenty-eight days where the price was below the global average. What does this really indicate?

In simple terms, this premium index reflects the difference between the BTC price on a specific platform and the global market. Currently, it’s consistently negative, meaning the trading price on this platform is cheaper than elsewhere globally. Sounds good? But from a market behavior perspective, the signals behind this are not so optimistic.

What does this usually imply? It often indicates that local selling pressure is too high, or that no one is willing to buy. Alternatively, it could mean one of the following: 1. Local investors’ interest in Bitcoin is cooling down; 2. The influx of institutional funds has significantly slowed; 3. USD liquidity is tightening, and funds are less abundant. Since this platform attracts mainstream US institutions and compliant capital, sustained low premiums are often seen as a sign that market sentiment is turning conservative or that funds are quietly withdrawing.

Looking back at historical data makes it even more interesting. In November 2025, there was a period of 29 consecutive days of negative premium before it reversed. Now? Data shows this index fluctuates between positive and negative—there was a wave of positive premium in early December, but it quickly dropped back. What does this tell us? Market disagreement is high, capital flows are unstable, and investor sentiment is easily influenced by short-term factors.

But it’s important to clarify—although this index is a good tool for observing capital movements, relying solely on this data to draw conclusions is risky. When making real decisions, one must also consider changes in trading volume, shifts in holdings, macro policy directions, and other dimensions. From the perspective of this platform’s persistent low premium, it’s true that short-term pressure exists, but the overall trend of the global market still depends on the performance of other regions and actual capital flows. In other words, this is just one piece of the puzzle; don’t overlook the others.