Data: Coinbase Bitcoin Premium Index has posted negative readings for 38 consecutive days, with purchasing power in the U.S. market remaining subdued
According to CoinGlass data, the Coinbase Bitcoin Premium Index has posted negative readings for 38 consecutive days, most recently at -0.2434%, with purchasing power in the U.S. market remaining subdued. Earlier, on August 24, the index turned positive for the first time since May 19, reaching 0.0052% and briefly ending its record-long 97-day stretch of negative premiums. The Coinbase Bitcoin Premium Index measures the price difference for Bitcoin between Coinbase Pro and Binance. A persistently negative reading usually means that prices on Coinbase are relatively lower, which may reflect weaker buying or greater selling pressure in the U.S. market. However, this indicator alone should not be taken as definitive evidence that institutional funds are flowing out.
According to CoinGlass data, the Coinbase Bitcoin Premium Index has posted negative readings for 38 consecutive days, most recently at -0.2434%, with purchasing power in the U.S. market remaining subdued. Earlier, on August 24, the index turned positive for the first time since May 19, reaching 0.0052% and briefly ending its record-long 97-day stretch of negative premiums. The Coinbase Bitcoin Premium Index measures the price difference for Bitcoin between Coinbase Pro and Binance. A persistently negative reading usually means that prices on Coinbase are relatively lower, which may reflect weaker buying or greater selling pressure in the U.S. market. However, this indicator alone should not be taken as definitive evidence that institutional funds are flowing out.