The Coinbase Bitcoin Premium Index has recorded negative values for 46 consecutive days, with purchasing power in the U.S. market continuing to languish in the doldrums.

BlockBeats news, November 8 - According to CoinGlass data, the Coinbase Bitcoin Premium Index has recorded negative values for 46 consecutive days, with the latest reading at -0.15%, indicating continued sluggish purchasing power in the U.S. market.

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

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