Coinbase Bitcoin Premium has been in negative territory for 97 consecutive days, setting a new all-time record.

BlockBeats News, August 23rd. According to CoinGlass data, the Coinbase Bitcoin Premium Index has been in a negative premium range for 97 consecutive days from May 19th to August 23rd, with the latest figure at -0.0266%, setting a new record for the longest continuous negative premium since the introduction of the index.

The previous record was a continuous 40 days from January 16th to February 24th this year, surpassing the approximately 30 days of continuous negative premium 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 value for the index typically indicates that Coinbase's quote 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 conclude directly that institutional funds are flowing out based solely on this index.