Coinbase Bitcoin Premium has been negative for 33 days in a row, setting the longest "continuous negative" record since May 2023

BlockBeats News, February 17th, according to Coinglass data, Coinbase's Bitcoin Premium Index has been in a negative premium for 33 consecutive days, currently at -0.0477%, setting a new record for the longest "consecutive negative" period since May 2023, surpassing the around 30 days of consecutive negative premium during the "1011 Crash" period.

The Coinbase Bitcoin Premium Index is used to measure the difference between the Bitcoin price on Coinbase and the global market average price. A negative premium usually reflects selling pressure in the U.S. market, a decrease in investor risk appetite, an increase in market hedging sentiment, or capital outflows.