CoinGlass data shows the Coinbase Bitcoin Premium Index has remained below zero for seven straight days as of Sept. 13, with the latest reading at -0.0205%. The index tracks the BTC price gap between Coinbase Pro and Binance and is commonly used as a gauge of relative demand in the U.S. market. A negative reading usually means Coinbase is trading at a discount to Binance, which can point to weaker buying interest in the U.S. or heavier selling pressure on the platform. The move follows a brief positive reading on Aug. 24, when the index returned above zero for the first time since May 19 and printed 0.0052%, ending what was described as the longest negative premium stretch on record at 97 consecutive days. Even so, the indicator should not be used on its own to conclude that institutional capital is leaving the market.
According to CoinGlass data, the Coinbase Bitcoin Premium Index has posted negative readings for seven consecutive days as of Sept. 13, with the latest figure at -0.0205%. The reading points to another spell of weak buying interest in the U.S. market.
Index remains below zero for a week
The Coinbase Bitcoin Premium Index measures the BTC price difference between Coinbase Pro and Binance. When the index stays negative, it usually means Bitcoin is quoted lower on Coinbase, a sign that can reflect weaker U.S. buying demand or heavier selling pressure.
It briefly turned positive on Aug. 24
Earlier, on Aug. 24, the index returned to positive territory for the first time since May 19, printing 0.0052%. That move briefly ended a 97-day negative premium stretch, described in the source as the longest on record.
The signal should not be read in isolation
The report also noted that the index alone is not enough to directly conclude that institutional funds are flowing out of the market.
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