Coinbase Bitcoin Premium has been negative for 90 days, setting a new all-time high for the longest streak in history

BlockBeats News, August 16th, according to CoinGlass data, Coinbase's Bitcoin Premium Index has been in a continuous negative premium range for 90 days from May 19th to August 16th, with the latest reading at -0.1066%, setting a new record for the longest consecutive negative premium since the introduction of this index.

The previous record was a 40-day consecutive period from January 16th to February 24th this year, exceeding the approximately 30-day consecutive 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 continuous negative value usually means that the Coinbase price is relatively lower, reflecting a weak buying pressure in the U.S. market or a significant selling pressure. However, it is not appropriate to conclude solely based on this index that institutional funds are flowing out.