U.S. institutional BTC selling pressure has intensified this month

On-chain analyst Darkfost said in an X post that BTC selling pressure from U.S. institutions and professional investors has intensified in October. Darkfost said the Coinbase premium index has posted sharply negative readings for several days, signaling relatively stronger selling pressure from U.S. institutional investors as Bitcoin on Coinbase traded below Binance. Rising Treasury yields, persistent inflation, and strength in the dollar index, or DXY, are constraining market liquidity, Darkfost added, while weakening institutional appetite for risk assets.