CoinGlass data shows the Coinbase Bitcoin Premium Index remained in negative territory for 90 straight days from May 19 to Aug. 16, with the latest reading at -0.1066%. That extends the longest continuous negative-premium streak 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 stretch seen during last year’s "1011 crash." The Coinbase Bitcoin Premium Index measures the Bitcoin price gap between Coinbase Pro and Binance. A sustained negative reading usually means Bitcoin is quoted lower on Coinbase, which can point to weaker buying interest in the U.S. market or heavier selling pressure. Even so, the metric alone is not enough to conclude that institutional capital is leaving the market.
CoinGlass data on Aug. 16 showed that the Coinbase Bitcoin Premium Index has stayed in negative territory for 90 consecutive days, from May 19 through Aug. 16. The latest reading was -0.1066%, extending the longest continuous negative-premium streak since the indicator was launched.
The previous longest streak lasted 40 days, from Jan. 16 to Feb. 24 this year. The current run has also surpassed the roughly 30-day stretch of continuous negative premium recorded during last year’s "1011 crash."
The Coinbase Bitcoin Premium Index tracks the Bitcoin price gap between Coinbase Pro and Binance. When the index remains negative, it usually means Bitcoin is priced lower on Coinbase, a signal that may reflect weaker buying interest in the U.S. market or stronger selling pressure. Still, the indicator on its own should not be used to directly conclude that institutional funds are flowing out of the market.
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