Bitcoin has seen a compounded 3.24% loss during US stock-market hours (9:30 a.m. to 4 p.m. New York time) since September 21, while prices outside that window advanced 6.07%. Concurrently, the Coinbase Premium Gap has fallen to -$64 compared to Binance, indicating weaker demand or heavier selling on the US-focused exchange. This trend occurred in 8 of 13 Wall Street cash sessions from September 21 to October 7. However, mixed ETF flows, including $189.9 million in inflows on October 2 despite price declines, complicate claims of persistent institutional selling, though the Coinbase discount remains a key signal.