Bitcoin appears with the strongest sell premium, as major US whales sell off heavily before the ETF opening

ForkMonger · 2026-01-19T08:20:11+00:00

On January 19th, on-chain analysts observed a clear sell premium signal in the market, indicating that large US investors are actively selling Bitcoin. The premium gap indicator shows that the selling pressure from US investors has increased, affecting market sentiment.

ForkMonger

2026-01-19 08:20:11

Abstract generation in progress

【Blockchain Rhythm】On January 19, on-chain analysts observed the most significant recent sell-off premium signal based on the Premium Gap Indicator (CPG).

Interestingly, Bitcoin’s sharp decline this morning occurred before the US spot ETF market opened. What does this indicate? The pressure is entirely coming from active large US investors outside of traditional ETFs — in other words, this wave of selling is driven by these institutions and whale-level players actively dumping, rather than passive follow-the-leader behavior.

Regarding the Premium Gap Indicator, here’s a simple explanation: it compares the price difference of Bitcoin between a leading exchange’s USD trading pair and another exchange’s USDT trading pair. When the indicator is positive, it indicates strong buying enthusiasm in the US; conversely, a negative value reflects US investors reducing their holdings.

In other words, the selling pressure from US investors is indeed increasing in the current scenario.

BTC-2,08%

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