CoinGlass data shows the Coinbase Bitcoin Premium Index has 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 of negative premium since the metric 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 stretch seen during last year’s “1011 crash.”
The Coinbase Bitcoin Premium Index tracks the price gap between Coinbase Pro and Binance. A negative reading usually means Bitcoin is trading at a lower price on Coinbase relative to Binance. According to the source, that can point to weaker buying from the U.S. market or heavier selling pressure, but the indicator alone is not enough to conclude that institutional capital is leaving the market.
According to BlockBeats, citing CoinGlass data on Aug. 23, the Coinbase Bitcoin Premium Index has stayed in negative territory for 97 consecutive days from May 19 through Aug. 23. The latest reading was -0.0266%, extending the longest continuous negative-premium streak since the indicator was introduced.
Previous streaks were shorter
The previous longest run lasted 40 consecutive days, from Jan. 16 to Feb. 24 this year. The current stretch is also longer than the roughly 30-day negative period recorded during last year’s “1011 crash.”
What the index measures
The Coinbase Bitcoin Premium Index measures the Bitcoin price difference between Coinbase Pro and Binance. When the index remains negative, it usually means Coinbase is quoting a lower Bitcoin price relative to Binance. The source said that may reflect weaker buying from the U.S. market or stronger selling pressure, but the indicator alone should not be used to directly conclude that institutional funds are flowing out.
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