Coinbase Bitcoin Premium Streak Hits 90 Days, Longest On Record

The Coinbase Bitcoin Premium Index has remained in negative territory for 90 consecutive days since May 19. This marks the longest stretch on record, indicating that Bitcoin is trading at a lower price on Coinbase Pro than on global crypto exchange Binance.

A positive reading on the premium index typically signals stronger buying demand from US investors. However, with the index currently at -0.1066%, it suggests weaker buying demand or stronger selling pressure in the US market.

While a decline in the premium index alone is not enough to conclude that institutional money is leaving the market, it should be viewed alongside other indicators such as flows into US spot-Bitcoin exchange-traded funds (ETFs).