Coinbase Bitcoin Discounts vs. Binance Extend to 50 Consecutive Days, a New Record

Odaily reports that 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's inception. The latest reading stands at approximately -0.0742%, indicating that Bitcoin's price on the US-based exchange Coinbase is lower than on Binance. This index compares Bitcoin prices on Coinbase and Binance. A negative reading typically corresponds to weaker buying demand from the US compared to the broader international market. This negative cycle began on May 19, 2026, surpassing the previous record of 40 consecutive negative days. 

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, after which Bitcoin and Ethereum ETFs collectively recorded inflows of $282 million.