Bitcoin continues to face price pressure as weak demand in the US market drives selling. The Coinbase Premium Index, which indicates Bitcoin's price on Coinbase relative to offshore exchanges, has reached a multi-month low, suggesting that Bitcoin is cheaper on Coinbase. This trend reflects net selling by US investors, though not indicative of panic selling. Efforts to stabilize Bitcoin's price have been hampered by the lack of domestic demand. Historically, Bitcoin recoveries are often preceded by a narrowing of the Coinbase discount and increased US buying, but these indicators are currently absent.