Coinbase Bitcoin Premium Index has been in negative premium for 49 consecutive days, continuing to set a record for the longest consecutive negative streak.

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Jinse Finance reports, according to Coinglass data, the Coinbase Bitcoin premium index has been in negative territory for 49 consecutive days (from May 19 to present), with the latest value at -0.1072%. Previously, the index was in negative territory for 40 consecutive days from January 16 to February 24 this year, setting the longest consecutive negative record since the index's launch, surpassing the roughly 30 days of consecutive negative premium during the "1011 crash." Historical data shows that prolonged negative premiums often accompany the withdrawal of U.S. institutional funds, so caution should be exercised regarding short-term pullback pressure.
BTC0.43%
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