Negative for 38 consecutive days, Coinbase Bitcoin Premium Index stands at -0.2434%

Odaily reports that the Coinbase Bitcoin Premium Index has been negative for 38 consecutive days, with the latest reading at -0.2434%. The index measures the Bitcoin price spread between Coinbase Pro and Binance; a negative reading typically means Coinbase's quote is relatively lower, potentially reflecting weak buying interest or heavy selling pressure in the U.S. market. Previously, the index stood at 0.0052% on August 24, turning positive for the first time since May 19 and ending a 97-day negative premium streak.