CoinGlass data shows the Coinbase Bitcoin Premium Index remained in negative territory for 97 consecutive days from May 19 to Aug. 23, with the latest reading at -0.0266%. That marks the longest uninterrupted stretch below zero 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 streak seen during last year’s "1011 crash." The index tracks the Bitcoin price gap between Coinbase Pro and Binance. A persistently negative reading usually means Coinbase prices are lower relative to Binance, which can point to weaker buying interest in the U.S. market or heavier selling pressure. Still, the metric 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 97 consecutive days from May 19 to Aug. 23. Its latest reading was -0.0266%, extending the longest continuous negative stretch since the indicator was launched.
The previous longest run lasted 40 days, from Jan. 16 to Feb. 24 this year. The current streak is also longer than the roughly 30-day stretch of negative readings recorded during last year’s "1011 crash."
The Coinbase Bitcoin Premium Index measures the Bitcoin price gap between Coinbase Pro and Binance. When the index remains negative, it usually means Coinbase is quoting a lower Bitcoin price relative to Binance. That can reflect weaker buying demand in the U.S. market or stronger selling pressure, but the indicator alone does not support a direct conclusion that institutional funds are leaving the market.
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