Coinbase's 75-Day Negative Premium Streak Breaks Record
A record has been broken in the Bitcoin market as Coinbase's Bitcoin Premium Index remained in negative territory for 75 consecutive days. This is the longest period since the indicator's inception and surpasses the previous record of a 40-day streak seen between January 16 and February 24.
The index measures the difference between Bitcoin prices on Coinbase Pro and Binance, with a negative value indicating that the price on Coinbase is lower than on Binance. This can signal weakening buying pressure or increasing selling pressure in the US market.
However, experts caution against drawing conclusions about institutional investors exiting Bitcoin based solely on this indicator, as it can also be affected by market liquidity, trading hours, investor profiles, and regional demand differences between exchanges.