Coinbase Bitcoin Premium Index Stays in Negative Territory for Seven Days
Coinbase's Bitcoin premium index has been in negative territory for seven straight trading days, indicating weaker buying demand in the US market.
The index measures the price gap between Coinbase and Binance, with a negative reading meaning Bitcoin is trading at a lower price on Coinbase. On September 13, the latest reading was -0.0205%, according to CoinGlass data cited by BlockBeats.
This is a reversal from August 24, when the premium index turned positive for the first time since May 19, ending a record 97-day stretch of negative premiums.