The Coinbase Bitcoin Premium Index has been in negative territory for 90 consecutive days from May 19 to August 16, with the latest reading at -0.1066%. This marks the longest continuous negative premium record since the index was launched. The previous record was 40 consecutive days from January 16 to February 24 this year, surpassing the approximately 30 days of continuous negative premium during last year's "1011 crash." The Coinbase Bitcoin Premium Index measures the price difference between Coinbase Pro and Binance for Bitcoin. A sustained negative index typically indicates that Coinbase's prices are relatively low, reflecting weaker buying interest or greater selling pressure in the U.S. market, but it should not be solely relied upon to conclude that institutional funds are flowing out.
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