Coinbase Bitcoin Premium Index Hits 90-Day Record Low
The Coinbase Bitcoin Premium Index has extended its negative streak to 90 consecutive days, according to data from CoinGlass. The index measures the price difference between Bitcoin on Coinbase Pro and Binance.
A negative reading means that Bitcoin is trading at a discount on Coinbase relative to Binance. This current run is the longest period of consecutive negative readings since the indicator was introduced.
The previous record was a 40-day negative streak recorded between January 16 and February 24. The latest reading stands at -0.1066%, which indicates that Bitcoin is trading at a discount on Coinbase.