The Coinbase Bitcoin Premium Index has recorded a negative value for 13 consecutive days, signaling weak buying power in the U.S. market.

BlockBeats News, May 27th, according to Coinglass data, Coinbase's Bitcoin Premium Index has been in a negative premium for 6 consecutive days, currently at -0.1644%. The outflow of Bitcoin spot ETF for multiple days highlights the weak buying power in the U.S. market.

The Coinbase Bitcoin Premium Index is used to measure the price of Bitcoin on Coinbase relative to the global market average price. A negative premium usually reflects significant selling pressure in the U.S. market, a decrease in investor risk appetite, a rise in market risk aversion, or capital outflows.