Bitcoin slides toward $63,000 as Coinbase premium stays negative for a record 60 days

Bitcoin's price dipped close to $63,000 amid a broader sell-off in chip stocks, which is impacting overall market sentiment. The Coinbase premium has remained negative for an unprecedented 60 days, indicating that buying Bitcoin on the platform is more expensive than through other means, suggesting weak demand. This situation is compounded by minimal flows into Bitcoin ETFs, which could mean investors are still cautious. These developments signal potential challenges for Bitcoin's short-term price stability and investor confidence.