Coinbase Premium Index Hits Record Low as US Demand for Bitcoin Falters
The Coinbase Bitcoin Premium Index has hit a record-breaking 78 consecutive days in negative territory, signaling that US investors or heightened selling activity may be driving down demand for Bitcoin.
This reading comes as the crypto market experiences an ongoing bearish trend, with Bitcoin dropping by nearly 50% from its record high to around $64,000.
The index tracks the price differential of BTC between Coinbase and other major exchanges, serving as a key gauge for US market appetite.