The Indicator Shows Bitcoin's Direction: Coinbase Premium IndexBitcoinCRYPTO:BTCUSDburakkesmeciIn the chart above, you can see Bitcoin's price on top and the Coinbase Premium Index on the bottom, both on the weekly timeframe. The Coinbase Premium Index measures the trading sentiment of US-based investors — typically institutional players and whales. When the index turns positive, buying pressure from the US side is increasing; when it turns negative, sellers take over. Looking at the chart, the relationship is remarkably clear: during periods when the index stayed positive, Bitcoin rallied from 41K to 126K, and during periods when it turned negative, it pulled back from 126K all the way to 60K. As for the current picture, the easing of negative pressure in the Coinbase Premium Index has had a limited positive effect on price. The index is still hovering in neutral territory, and historically this zone is a transitional area where its directional influence weakens and uncertainty takes over. There is neither a strong recovery signal nor an early warning of a new wave of selling. For Bitcoin to regain meaningful strength, the index needs to break above neutral, enter positive territory, and hold there. Until that happens, reading the current price action as a lasting reversal would be premature.