Coinbase Premium Index Signals: Analyzing Bitcoin’s $91K Plunge Amid Shifting Market Dynamics

On November 20, 2025, Bitcoin experienced a significant price decline, dropping to $91,370 following the opening of US markets. This downturn occurred despite notable reductions in selling pressure observed through on-chain metrics. The Coinbase Premium Index, a crucial indicator of market sentiment and institutional activity, had previously shown halved selling momentum in the lead-up to the drop. Market analysts are carefully examining this divergence between improving fundamental indicators and actual price performance. The failure of reduced selling pressure to translate into sustainable bullish momentum has raised questions about underlying market weaknesses and the true strength of buyer support. This development highlights the complex interplay between technical indicators and market psychology in the cryptocurrency space, with Coinbase data continuing to serve as a vital barometer for institutional sentiment and potential price direction.

Bitcoin's Unexpected Decline: On-Chain Analysts Weigh In

Bitcoin's price took a sharp downturn following the opening of US markets, with the cryptocurrency dropping to $91,370. On-chain analysts are scrutinizing the move, noting that despite a reduction in selling pressure, the momentum remains insufficient for a sustained recovery. The Coinbase Premium Index, a key indicator of market sentiment, had shown halved selling momentum prior to the decline—a signal that failed to translate into bullish reversal.

"Artificial price hikes under persistent negative pressure often revert," cautioned one analyst. The market now watches for whether buyer activity can stabilize the slide or if further downside is imminent.

Coinbase Expands DEX Trading to Brazil Following U.S. Launch

Coinbase has extended its decentralized exchange (DEX) trading feature to users in Brazil, marking its first major expansion outside the United States. The move comes as the company capitalizes on growing crypto adoption and regulatory clarity in the region.

CEO Brian Armstrong announced the rollout on November 19, noting that U.S. customers have already been utilizing the service. The feature provides seamless access to millions of on-chain assets by routing trades through decentralized liquidity sources like Uniswap and Aerodrome.

Brazil's crypto market gains further momentum with a former Coinbase director now leading Nubank's digital assets unit. The expansion underscores Coinbase's commitment to making on-chain trading increasingly accessible globally.