Coinbase Bitcoin Premium Index Records 47 Consecutive Days in Negative Territory, Extending the Longest Negative Streak on Record

According to Coinglass data, the Coinbase Bitcoin Premium Index has been in negative territory for 47 consecutive days (from May 19 to present), with the latest reading at -0.1007%. This index measures the deviation of BTC prices on Coinbase (a leading US compliant exchange) from the global average. A sustained negative value indicates heavier sell pressure in the US market, declining risk appetite, capital outflows, or heightened risk aversion. Historical data shows that prolonged negative premiums often coincide with the withdrawal of US institutional funds, warranting vigilance against potential short-term pullback pressure.

Previously, the index recorded a negative premium for 40 consecutive days from January 16 to February 24 this year, setting the longest negative streak since the indicator's launch, surpassing the roughly 30-day continuous negative premium observed during the "1011 Crash" period.