CoinGlass data shows the Coinbase Bitcoin Premium Index remained in negative territory for 82 straight days from May 19 to Aug. 8, with the latest reading at -0.0759%. That marks the longest continuous negative stretch since the indicator was introduced. The previous record lasted 40 days, from Jan. 16 to Feb. 24 this year, and the current run is also longer than the roughly 30-day negative period seen during last year’s “1011 crash.” The index tracks the Bitcoin price gap between Coinbase Pro and Binance. A persistent negative reading usually means Coinbase is quoting lower prices than Binance, a signal often associated with weaker buying interest in the U.S. market or heavier selling pressure. Still, the source noted that this indicator alone should not be used to conclude that institutional capital is leaving the market. The reading points to soft U.S. demand, but it does not, by itself, prove fund outflows.
CoinGlass data cited by BlockBeats on Aug. 8 showed the Coinbase Bitcoin Premium Index had stayed in negative territory for 82 consecutive days, from May 19 through Aug. 8. The latest reading was -0.0759%, setting the longest continuous negative streak since the indicator was launched.
The previous longest run lasted 40 days, from Jan. 16 to Feb. 24 this year. The current stretch is also longer than the roughly 30-day period of continuous negative premium recorded during last year’s “1011 crash.”
The index tracks the price gap between Coinbase Pro and Binance
The Coinbase Bitcoin Premium Index measures the Bitcoin price difference between Coinbase Pro and Binance. When the index remains below zero, it usually means Coinbase is quoting a lower price than Binance, which can reflect weaker buying interest in the U.S. market or stronger selling pressure.
BlockBeats added that the indicator alone is not enough to directly conclude that institutional capital is flowing out of the market.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
