Coinbase Bitcoin Premium has been negative for 82 days straight, with US market buying power remaining weak

BlockBeats News, August 8th. According to CoinGlass data, the Coinbase Bitcoin Premium Index has been in a continuous negative premium range for 82 days from May 19th to August 8th, with the latest report at -0.0759%, setting a new record for the longest consecutive negative premium since the launch of the index.

The previous record was a consecutive 40 days from January 16th to February 24th this year, surpassing the approximately 30 days of continuous negative premium during last year's "10/11 crash."

The Coinbase Bitcoin Premium Index is used to measure the Bitcoin price difference between Coinbase Pro and Binance. A sustained negative index usually indicates that the Coinbase price is relatively lower, which may reflect a weak buying pressure or significant selling pressure in the U.S. market. However, it is not advisable to directly conclude based solely on this index that institutional funds are flowing out.