According to ChainCatcher, Coinglass data reveals that the Coinbase Bitcoin Premium Index has now posted negative readings for 18 consecutive trading sessions, with the latest figure standing at -0.1347%. This persistent negative print underscores the ongoing weakness in U.S. market buying power. The index measures the price differential between Bitcoin traded on Coinbase Pro (BTC/USD) and a weighted average of global major exchanges, reflecting how U.S. demand stacks up against the broader market. A positive reading indicates strong buying interest in the U.S., while a negative value points to heavier selling pressure.
With the index stuck in the red for nearly three weeks, the data highlights a notable decline in U.S. investor risk appetite. Coinglass notes that such sustained negativity often stems from heightened risk-aversion or capital outflows, which in turn leave Coinbase with insufficient buy-side demand and keep prices under pressure. Throughout this 18-day stretch, the premium index has failed to flip positive, reinforcing a cautious, wait-and-see stance among market participants. As a widely followed sentiment barometer for the crypto space, the extended negative zone on the Coinbase Bitcoin Premium Index serves as a key reference for gauging the direction of major U.S. capital flows.