Summary
- The Coinbase Bitcoin (BTC) premium index has remained in negative territory for 39 consecutive days.
- The index is currently at -0.0405%, and it has registered a positive premium on only two trading days so far this year.
- A negative premium is interpreted as a sign of relatively strong selling pressure in the US market or a potential pullback in investors’ risk appetite.
The Coinbase Bitcoin (BTC) premium index has stayed in negative territory for 39 consecutive days.
According to BlockBeats, a digital asset (cryptocurrency) news outlet, Coinglass data show the Coinbase Bitcoin premium index has been in the red for 39 days, currently at -0.0405%. So far this year, the index has posted a positive premium on only two trading days.
The Coinbase Bitcoin premium index measures how much higher or lower Bitcoin’s price on Coinbase is compared with the global average price. A negative reading means the Coinbase price is below the global average.
In general, a negative premium is interpreted as a sign that selling pressure in the US market is relatively strong, or that investors’ risk appetite may have weakened.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
