#Gate广场创作者新春激励 🔔 On-Chain Signal Alert for Ethereum: Institutional Demand Weakening, Increased Risk of Pullback

Latest on-chain data shows that the 14-day simple moving average (SMA) of Coinbase premium for Ethereum has fallen to -2.285, the lowest since early February 2025. This indicator remains negative, typically signaling weakening demand from US institutional investors.

📉 Why is this worth paying attention to?

· Coinbase premium reflects the price difference between the US-regulated platform (Coinbase) and other exchanges. A negative value often indicates insufficient institutional buying pressure or a tendency to sell.
· The 14-day SMA further smooths short-term fluctuations, highlighting medium- to long-term trend shifts.
· The decline to nearly a one-year low suggests that institutional funds may be slowing their inflow or shifting to a more cautious stance.

⚠️ Impact on the Market

If the premium remains depressed, it could intensify selling pressure, increasing the risk of a short-term ETH correction. Although on-chain indicators are not the sole market signals, combining recent market sentiment and capital flows, traders should stay vigilant, avoid excessive leverage, and monitor subsequent institutional movements and macroeconomic changes.

The market is always changing; data is a calm navigator. Staying rational amid volatility is key to steady progress through cycles.