The Coinbase Bitcoin Premium Index turned positive at +0.0032% on Aug. 24 for the first time in 98 days, ending a record 97-day negative streak that began May 19. The index measures the price gap between Bitcoin on Coinbase and global cryptocurrency exchanges, with a positive reading often interpreted as stronger U.S. buying demand. The signal was short-lived, however, as the premium fell back to -0.0141% on Aug. 25. The reversal suggests that any recovery in U.S. demand remains tentative rather than a confirmed trend. The prolonged negative streak coincided with subdued U.S. crypto activity, which some analysts attribute to regulatory uncertainty, seasonal liquidity patterns and broader risk aversion. Traders will likely compare the premium with spot volumes, ETF flows and derivatives positioning, while accounting for the measure's sensitivity to arbitrage, exchange liquidity and the timing of large trades. Earlier negative-premium streaks included a 40-day period from Jan. 16 to Feb. 24 and a roughly 30-day stretch during last year's October 11 crash.