The Coinbase Premium Index, which compares Bitcoin’s price on Coinbase with prices on global exchanges such as Binance, has fallen to its lowest level in roughly a month as US buying interest weakens. The index recorded a seven-day negative streak at -0.0205% in mid-September while Bitcoin traded near $75,600 to $75,800, suggesting that the price level was not sufficient to draw US buyers back into the market. A negative reading means Bitcoin is cheaper on Coinbase than on international venues, indicating softer US demand or stronger selling by American holders. The index had previously remained negative for 97 consecutive days from May 19 before briefly turning positive on August 24. By September 16, readings had weakened further, ranging from approximately -44.47 to -59.42 on venue-specific scales. A comparable low was recorded in May at about -0.0983%. Coinbase is a major entry point for US institutional capital and serves as custodian for most US spot Bitcoin ETFs, making its order book a closely watched indicator of activity among larger, regulated participants. Extended negative readings have historically coincided with US institutions selling or refraining from accumulation. The recovery path will depend on macroeconomic conditions, regulatory developments and spot Bitcoin ETF flows. Traders often treat a sustained move toward zero or positive territory as evidence that US institutions are becoming more comfortable, while the latest seven-day decline after the earlier 97-day stretch remains a notable market signal.