Coinbase Bitcoin Premium Stays Negative for 50 Trading Days, Longest Streak on Record

The Coinbase Bitcoin Premium Index has remained in negative territory for 50 consecutive trading days.

ODaily, citing CoinGlass data on July 7, reported that the Coinbase Bitcoin Premium Index has stayed negative for 50 straight days since May 19. That marks the longest negative streak since the index began being tracked.

The Coinbase Bitcoin Premium Index measures the price gap for Bitcoin between Coinbase and Binance. A positive reading generally signals relatively stronger buying by US investors, while a negative reading suggests weaker US demand because Bitcoin is trading at a lower price on Coinbase than on Binance.

The previous longest streak was 40 days, running from Jan. 16 to Feb. 24. That record has now been broken.