The Coinbase Bitcoin premium has reached historic lows, dropping to nearly negative $90, as US investors continue to sell off. This decline highlights a significant divergence in demand between the US and other regions. The trend aligns with four consecutive weeks of Bitcoin price declines and three weeks of negative ETF flows, with outflows totaling nearly 8,000 Bitcoin this quarter. Market uncertainty is further fueled by the delayed December Federal Reserve meeting and mixed employment data. Bitwise CEO Hunter Horsley noted a potential break in the traditional four-year Bitcoin cycle, suggesting 2026 may not follow past patterns.