Coinbase Bitcoin Negative Premium Lasts Record 97 Days
The Coinbase Bitcoin Premium Index has been in negative territory for 97 consecutive days from May 19 to August 23, with the latest reading at -0.0266%. This marks the longest continuous negative premium record 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 measures 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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