Coinbase Premium Index has been compressed near zero for years now — a structural shift from the old cycles.

👉In 2026 we’ve seen one of the longest negative streaks on record, showing US spot demand remains soft even as BTC stabilizes near $64K.

👉Positive premium has historically been a strong confirmation for meaningful upside. Until it returns, the path of least resistance looks more like consolidation or slower recovery.
$BTC