Crypto
Coinbase Premium Paints Bleak Picture for US Bitcoin Demand
The Coinbase Bitcoin premium index has been negative for an unprecedented 86 consecutive days, breaking the previous record of 40 days set earlier this year from January 16 to February 24.
A negative premium indicates that Bitcoin is trading at a lower price on Coinbase compared to other major exchanges, suggesting weaker buying pressure from U.S. investors who predominantly use Coinbase as their primary exchange.
Prolonged periods of negative premiums have historically coincided with slower institutional demand and reduced spot market activity from American buyers.