Bitcoin Price Drops Over 12% From Record Highs As US Buying Pressure Wanes

• Coinbase premium has evaporated, indicating weaker US buying pressure • Bitcoin trading at $64,000, down over 12% from record highs last week • Coinbase premium tracked spread between Coinbase and Binance bitcoin prices • Bitcoin now trading at discount on Coinbase versus offshore exchanges • Analysts expect further bitcoin price drops if ETF inflows remain weak