CoinGlass data shows the Coinbase Bitcoin premium index at -0.0759% on Aug. 8, extending the longest negative streak on record while signaling softer U.S. buying or heavier selling pressure.
Coinbase's Bitcoin premium index has remained in negative territory for 82 consecutive days from May 19 through Aug. 8, the longest such stretch since the indicator was introduced, according to CoinGlass. The latest reading was -0.0759%. That extends the previous record of 40 straight negative days from Jan. 16 to Feb. 24 this year and surpasses the roughly 30-day negative run seen during the "1011 crash." The Coinbase Bitcoin premium index measures the Bitcoin price gap between Coinbase Pro and Binance. A sustained negative premium usually means Bitcoin is trading relatively lower on Coinbase, pointing to weaker buying in the U.S. market or greater selling pressure, though the indicator alone does not prove institutional capital is leaving the market.