According to ChainCatcher, Coinglass data reveals that the Coinbase Bitcoin premium index has remained in negative territory for 18 consecutive trading sessions, currently reading -0.1347%. This prolonged negative premium clearly signals that Bitcoin buying appetite in the US market stays persistently soft, with subdued spot trading activity. As of now, the indicator continues to hover below zero, showing no sign of returning to positive values.
The Coinbase Bitcoin premium index specifically tracks the deviation between Bitcoin's price on Coinbase and the global weighted average price. A positive reading means Bitcoin trades at a premium on Coinbase compared to the global norm, reflecting strong US buying demand. Conversely, a negative reading indicates that Coinbase's Bitcoin price is at a discount, typically pointing to prevailing selling pressure in the US market, declining risk appetite, rising risk-off sentiment, and potentially even periodic capital outflows from risk assets. Although the 18-day negative streak involves only a modest -0.1347% gap, its duration sends a clear signal of significantly insufficient US‑side buying momentum, aligning with the broadly cautious stance toward crypto assets recently observed in the US market.