The Coinbase Bitcoin Premium Index has been in a negative premium for 11 consecutive days, signaling a sustained downturn in buying power in the U.S. market

BlockBeats News, May 17th, according to Coinglass data, Coinbase's Bitcoin Premium Index has been in a negative premium for 11 consecutive days, currently at -0.0545%, indicating a prolonged period of weak 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, with a negative premium usually indicating strong selling pressure in the U.S. market, a decrease in investor risk appetite, a rise in market risk aversion sentiment, or capital outflows.