• BTC dipped by 2.55% over the past day.
• Bitcoin saw a surge in institution demand as the Coinbase Premium Index flips to positive.

Over the past week, Bitcoin [BTC] has continued to trade Between $95k and $98k. In fact, as of this writing, Bitcoin was trading at $95936. This marked a 2.55% decline on daily charts with an extension to this bearish outlook on weekly charts by 1.56%.

With Bitcoin struggling to maintain an uptrend and reclaim higher resistance, investors especially institutions have taken this opportunity to buy BTC.

Inasmuch, popular crypto analyst Ali Martinez has suggested a rising institutional demand, citing the Coinbase Premium Index.

Bitcoin institutional demand surges

With Bitcoin’s continued consolidation, institutional demand has surged. Over the past week, the Coinbase Premium Index has remained positive.

When positive, it suggests stronger buying pressure on Coinbase than on Binance, implying that U.S. investors are dominating the market.

As such, institutions have taken advantage of the current price stagnation to accumulate Bitcoin at lower rates.

This rising buying pressure from institutions reflects bullish sentiments as they anticipate prices to rebound in the near term.

What BTC charts suggest