Analysts warn of 'institutional exhaustion' with Bitcoin price clinging to $32K

The Coinbase premium has returned, but why is the price of Bitcoin still struggling to stay above $32,000?
Source: Analysts warn of 'institutional exhaustion' with Bitcoin price clinging to $32K (https://cointelegraph.com/news/analysts-warn-of-institutional-exhaustion-with-bitcoin-price-back-below-32k)
Would appreciate your opinion about this