Coinbase Bitcoin Negative Premium Lasts Record 95 Days
The Coinbase Bitcoin Premium Index has narrowed its negative premium to -0.0221%, but it remains in a negative premium state. Data shows that from May 19 to August 21, this indicator has been in the negative premium range for 95 consecutive days, setting a new record for the longest continuous negative premium since the index was launched. The previous longest record was 40 consecutive days from January 16 to February 24 this year, surpassing the approximately 30 days of continuous negative premium during last year's "1011 crash." The Coinbase Bitcoin Premium Index is used to measure the price difference between Bitcoin on Coinbase Pro and Binance. A sustained negative index typically indicates that Coinbase's prices are relatively low, reflecting weaker buying interest or greater selling pressure in the U.S. market, but it should not be solely relied upon to conclude that institutional funds are flowing out.
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