Coinbase Bitcoin Premium Index has recorded negative values for 50 consecutive days, setting a new record for the longest negative streak

Odaily Planet Daily News: According to Coinglass data, the Coinbase Bitcoin Premium Index has been in negative territory for 50 consecutive days (from May 19 to present), with the latest value at -0.0742%. Previously, the index recorded a 40-day consecutive negative premium from January 16 to February 24 this year, which was then the longest negative streak since the indicator's inception, surpassing the roughly 30-day consecutive negative premium during the "1011 crash." Historical data shows that prolonged negative premiums often accompany the withdrawal of US institutional funds, suggesting a need to be cautious of short-term pullback pressure.