Crypto
Coinbase Bitcoin Premium Index Hits Record Negative Streak
The Coinbase Bitcoin Premium Index has hit a record low for its longest consecutive negative streak.
The index, which tracks the difference between Bitcoin prices on Coinbase Pro and Binance, remained below zero for 90 days through August 16, according to CoinGlass data.
This is the longest such run in recorded history, with the index most recently sitting at -0.1066% after starting its negative trend on May 19.
The reading below zero indicates that Bitcoin prices are lower on Coinbase relative to Binance, which could be associated with softer U.S. buying activity or stronger selling pressure.