Coinbase Premium Index Negative for 102 Days: Weak US Demand
The Coinbase Premium Index for Bitcoin has been negative for 102 consecutive days. This persistent trend suggests weaker demand on Coinbase compared to the global market.
This negative reading is interpreted as a proxy for reduced U.S. spot demand for Bitcoin. Historically, such readings have indicated that Bitcoin is trading at a discount on U.S.-based exchanges.
The ongoing situation may influence market expectations for Ethereum's performance relative to Bitcoin. Current market pricing indicates low expectations for Ethereum reaching $10,000 by December 31, 2026, with odds ranging between 1% and 4.5% across various sub-markets.