Coinbase’s Bitcoin Premium Index has remained below zero for five consecutive days, according to CoinGlass, with the latest reading at -0.042%. The move points to weaker buying interest in the U.S. market. The index had briefly turned positive on Aug. 24, printing 0.0052% for the first positive signal since May 19 and temporarily ending what was described as a record 97-day stretch of negative premium. The Coinbase Bitcoin Premium Index tracks the price gap between Coinbase Pro and Binance. A sustained negative reading usually means Bitcoin is priced lower on Coinbase, a pattern often associated with softer U.S. demand or heavier selling pressure. Even so, the indicator on its own is not enough to conclude that institutional capital is leaving the market.
Coinbase’s Bitcoin Premium Index has posted negative readings for five straight days, with the latest figure at -0.042%, according to CoinGlass data cited by BlockBeats on Sept. 11. The reading suggests buying power in the U.S. market has weakened again.
Earlier, on Aug. 24, the Coinbase Bitcoin Premium Index turned positive for the first time since May 19, reaching 0.0052%. That briefly ended a 97-day stretch of negative premium, described in the report as the longest such period on record.
The index tracks the Bitcoin price gap between Coinbase Pro and Binance
The Coinbase Bitcoin Premium Index measures the Bitcoin price difference between Coinbase Pro and Binance. When the index stays negative, it usually means Coinbase is quoting a lower Bitcoin price than Binance. That can reflect weaker buying interest in the U.S. market or stronger selling pressure.
The report also noted that this indicator alone should not be used to directly conclude that institutional money is flowing out of the market.
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