CoinGlass data shows the Coinbase Bitcoin Premium Index remained in negative territory for 90 consecutive days from May 19 to Aug. 16, with the latest reading at -0.1066%. That marks the longest unbroken stretch below zero since the indicator was introduced. The previous record lasted 40 days, from Jan. 16 to Feb. 24 this year. The current run also exceeds the roughly 30-day negative stretch seen during last year’s 「1011 crash」 period. The index tracks the Bitcoin price gap between Coinbase Pro and Binance. A negative reading usually means Coinbase quotes are lower, which can point to weaker buying interest in the U.S. market or heavier selling pressure. Still, the indicator alone is not enough to conclude that institutional capital is flowing out.
According to CoinGlass data, the Coinbase Bitcoin Premium Index stayed in negative territory for 90 consecutive days from May 19 to Aug. 16, with the latest reading at -0.1066%. The streak is now the longest continuous negative run since the indicator was launched.
A new record for consecutive negative readings
The previous longest stretch lasted 40 days, from Jan. 16 to Feb. 24 this year. The current 90-day run is also longer than the roughly 30-day period of continuous negative premium seen during last year’s 「1011 crash」.
What the index measures
The Coinbase Bitcoin Premium Index measures the Bitcoin price gap between Coinbase Pro and Binance. When the index stays below zero, it usually means Coinbase is quoting a lower price. That can reflect weaker buying demand in the U.S. market or stronger selling pressure, though the indicator alone should not be used to directly conclude that institutional funds are leaving the market.
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