Coinbase Bitcoin Discount vs. Binance Extends to 50 Consecutive Days, Setting a New Record

Odaily Odaily reported that as of July 7-8, 2026, the Coinbase Bitcoin Premium Index has been negative for 50 consecutive days, marking the longest negative period on record for the indicator. The latest reading is approximately -0.0742%, indicating that Bitcoin is priced lower on the US-based exchange Coinbase than on Binance. This indicator compares Bitcoin prices on Coinbase and Binance. A negative reading typically corresponds to weaker US buyer demand compared to broader international market demand; this negative cycle began on May 19, 2026, and has already surpassed the previous record of 40 consecutive days of negative readings. 

As of early July 2026, US spot Bitcoin ETFs have seen net outflows of approximately $6 billion year-to-date. In late June, US spot Bitcoin ETFs saw outflows exceeding $2.6 billion over nine trading days, following which Bitcoin and Ethereum ETFs recorded a combined inflow of $282 million.