Coinbase Bitcoin Premium Stays Negative for 50 Straight Trading Days, Longest on Record

Coinbase’s Bitcoin premium index has remained negative for 50 consecutive trading days.

ODaily, citing CoinGlass data, reported that the Coinbase Bitcoin premium index has stayed below zero for 50 straight trading days since May 19. That is the longest negative streak since the index was first compiled.

The Coinbase Bitcoin premium index measures the difference between Bitcoin prices on Coinbase and Binance. A positive reading generally signals relatively stronger buying by US investors. A negative reading means Bitcoin is trading at a lower price on Coinbase than on Binance, suggesting weaker demand from the US.

The previous longest negative streak lasted 40 days, from Jan. 16 to Feb. 24, before the record was broken this time.