Coinbase Bitcoin Trades at Discount to Binance for 50 Consecutive Days, Setting a New Record

According to Odaily, as of July 7-8, 2026, the Coinbase Bitcoin Premium Index has been negative for 50 consecutive days, marking the longest negative cycle since the indicator was recorded. The latest reading is approximately -0.0742%, indicating that Bitcoin's price on the US-based exchange Coinbase is lower than on Binance. This index compares the Bitcoin price between Coinbase and Binance. A negative reading typically corresponds to weaker buyer demand in the US compared to the broader international market. 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 experienced outflows exceeding $2.6 billion over nine trading days, followed by a combined inflow of $282 million into Bitcoin and Ethereum ETFs.