Coinbase Bitcoin premium index has been in negative territory for 47 consecutive days, setting a new record for the longest continuous negative streak

According to Coinglass data, the Coinbase Bitcoin premium index has been in negative territory for 47 consecutive days (from May 19 to present), with the latest reading at -0.1007%. This index measures the deviation of BTC prices on Coinbase (the leading compliant exchange in the US) from the global average. A sustained negative value indicates heavy selling pressure in the US market, declining risk appetite, capital outflows, or rising risk aversion. Historical data shows that prolonged negative premiums are often accompanied by the withdrawal of US institutional funds, warranting caution regarding short-term pullback pressure.

Previously, the index recorded a 40-day negative streak from January 16 to February 24 this year, setting the longest consecutive negative record since the indicator's launch, surpassing the approximately 30-day continuous negative premium period during the "1011 crash."