The Coinbase Bitcoin Premium Index has recorded negative values for 31 consecutive days, indicating that purchasing power in the U.S. market has once again fallen into a slump.

BlockBeats news, October 24 - According to CoinGlass data, the Coinbase Bitcoin Premium Index has recorded negative values for 31 consecutive days, with the latest reading at -0.1353%, indicating that purchasing power in the U.S. market has once again fallen into a slump.

Previously, on August 24, the Coinbase Bitcoin Premium Index showed a positive signal for the first time since May 19, registering 0.0052%, briefly ending the longest negative premium streak in history at 97 consecutive days.

The Coinbase Bitcoin Premium Index measures the Bitcoin price spread between Coinbase Pro and Binance. A persistently negative index typically means Coinbase's quotes are relatively lower, which can reflect weak buying interest or heavy selling pressure in the U.S. market, but it should not be used alone to directly conclude that institutional capital is flowing out.