The Coinbase Bitcoin Premium Index has been in negative territory for 8 consecutive days, signaling a renewed downturn in buying power in the US market

BlockBeats News, May 14th, according to Coinglass data, Coinbase's Bitcoin Premium Index has been in negative premium for 8 consecutive days, currently at -0.032%, indicating a weakened buying power in the U.S. market. Previously, it was in a positive premium for 19 consecutive days.

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 indicates selling pressure in the U.S. market, a decrease in investor risk appetite, a rise in market risk aversion, or capital outflows.