Coinbase Bitcoin Premium Index Records Negative Value for 50 Consecutive Days, US Market Buying Power Remains Sluggish

Odaily reports: According to CoinGlass data, the Coinbase Bitcoin Premium Index has recorded negative values for 50 consecutive days, most recently at -0.13%, with a 30-day average of -0.15%.

The Coinbase Bitcoin Premium Index measures the Bitcoin price difference between Coinbase and Binance, and is used to observe buying and selling pressure in the US market relative to the global market. A persistently negative index typically means Coinbase's quotes are relatively lower, which can reflect weaker buying or heavier selling pressure in the US market, though this indicator alone should not be used to directly conclude that institutional capital is flowing out.

Previously, on August 24, the Coinbase Bitcoin Premium Index turned positive for the first time since May 19, briefly ending the longest negative premium streak in history at 97 consecutive days.