Coinbase Bitcoin Premium Stays Negative for 21 Straight Days as US Buying Weakens

Coinbase’s Bitcoin premium index remained in negative territory for a 21st straight day, signaling weaker spot buying in the US market and continued concern about slowing demand for Bitcoin.

As of June 8, the Coinbase Bitcoin premium index had logged 21 consecutive days below zero, BlockBeats, a crypto-focused media outlet, reported, citing CoinGlass data. The index stood at negative 0.0621%.

The Coinbase Bitcoin premium index measures the gap between Bitcoin prices on Coinbase and the global market average. Coinbase is widely used as a barometer of demand from US institutions and spot investors.

A negative premium means Bitcoin is trading on Coinbase below the global average. That can signal weaker buying interest in the US market or relatively stronger selling pressure.

BlockBeats said the negative premium may reflect weaker risk appetite in the US, increased demand for safe-haven assets and capital outflows.

Market participants are watching flows into US spot Bitcoin exchange-traded funds and whether the Coinbase premium recovers as key factors for Bitcoin’s short-term direction. If US spot demand fails to rebound, any price recovery may remain limited.