Coinbase Bitcoin Price Discount has Lasted for 95 Days, Setting a New All-Time High

BlockBeats News, August 21st, the Coinbase Bitcoin Premium Index's negative premium narrowed to -0.0221%, but still maintained a negative premium. Data shows that from May 19th to August 21st, this index has been in a negative premium range for 95 consecutive days, refreshing the longest consecutive negative premium record since the launch of the index.

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

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