Coinbase Bitcoin Premium Index Hits Record 90-Day Negative Streak
The Coinbase Bitcoin Premium Index has hit a record 90-day negative streak, marking the longest such stretch since it began tracking the price difference between Coinbase and Binance.
According to CoinGlass data, the negative run lasted from May 19 through August 16, with the latest reading around -0.1066%. This small discount may not seem significant, but its persistence is noteworthy, as it suggests that the market has struggled to generate sustained Coinbase-side demand.
The Coinbase Premium Index measures the difference between Bitcoin's price on Coinbase and its price on another major exchange, commonly Binance. When the index is positive, Bitcoin trades at a premium on Coinbase, indicating stronger demand from buyers using the U.S.-linked platform.