PiCK
Coinbase Bitcoin Premium Negative for 40 Straight Days…U.S. Buying Interest Weakens
Summary
- The Coinbase Bitcoin premium index has remained in negative territory for 40 consecutive trading days, indicating continued weakening in U.S. buying interest.
- The index recently posted -0.0335%, and has turned positive on only two trading days so far this year.
- A negative reading means U.S. exchange prices are below the global average, typically interpreted as a signal of rising selling pressure, weaker risk appetite, and potential capital outflows in the U.S. market.
The Coinbase Bitcoin (BTC) premium index has remained in negative territory for 40 consecutive trading days, underscoring continued cooling in U.S. market buying.
According to BlockBeats, a digital-asset (crypto) news outlet, the Coinbase Bitcoin premium index—compiled by the on-chain data platform Coinglass—recently came in at -0.0335%. The gauge has stayed below zero for 40 straight days.
So far this year, the index has turned positive on only two trading days.
The Coinbase Bitcoin premium index measures the gap between Bitcoin’s price on Coinbase and the global average price. A negative reading means prices on the U.S. exchange are below the global average, typically interpreted as a signal reflecting increased selling pressure in the U.S. market, weaker risk appetite, and potential capital outflows.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
