The latest reading of -0.0072% extends the longest negative streak since at least January, surpassing a 40-day run and outlasting the roughly 30-day stretch during the “1011 crash.”
The Coinbase Bitcoin Premium Index has remained below zero for 55 consecutive days from May 19 through the latest reading, setting a new record for the length of its negative stretch. The index most recently stood at -0.0072%, according to Odaily. That surpasses the previous record of 40 straight negative days from January 16 to February 24 and exceeds the roughly 30-day run seen during the “1011 crash.” A negative Coinbase Bitcoin Premium Index generally indicates Bitcoin is trading at a discount on Coinbase relative to other venues, a signal traders often watch for signs of weaker U.S.-linked spot demand.