TechFlow reports, CryptoQuant analyst burakkesmeci pointed out that when the Coinbase Premium Index (CPI) falls below its 14-day simple moving average (SMA14), selling pressure on Bitcoin increases.
Analysis of 2024 data clearly shows that each time CPI drops below SMA14, Bitcoin's price undergoes a correction. Particularly after the approval of U.S. spot ETFs, CPI has become a more effective leading indicator for tracking price movements.
Burakkesmeci believes combining CPI with SMA14 provides better monitoring of short-term trends. Currently, CPI stands at -0.008, while SMA14 is at 0.020, indicating sellers hold an advantage in the U.S. market.
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