Coinbase Bitcoin Premium has been negative for 86 days straight, with the purchasing power in the U.S. market remaining weak.

BlockBeats News, August 12th, according to CoinGlass data, Coinbase's Bitcoin Premium Index has been in a negative premium zone for 86 consecutive days from May 19th to August 12th, with the latest reading at -0.1073%, setting a new record for the longest consecutive negative premium since the launch of this index.

The previous record was a consecutive 40 days from January 16th to February 24th this year, surpassing the approximately 30 days of consecutive negative premium during last year's "1011 Crash".

The Coinbase Bitcoin Premium Index is used to measure the Bitcoin price difference between Coinbase Pro and Binance. A negative value indicates that Coinbase's quote is relatively lower, potentially reflecting weak buying pressure or significant selling pressure in the U.S. market. However, it is not appropriate to conclude solely based on this index that institutional funds are flowing out.