Coinbase Bitcoin Premium Index has been negative for 50 consecutive days, extending the longest streak in history.

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BlockBeats news. July 7, according to Coinglass data, the Coinbase Bitcoin premium index has been in a negative-premium range for 50 consecutive days since May 19. The latest reading is -0.0742%, extending the longest consecutive negative-premium record since this indicator was launched.

Previously, the index was in a negative-premium range for 40 consecutive days from January 16 to February 24 this year, surpassing the record of about 30 consecutive days of negative premium during the “1011 crash.” Historical data shows that prolonged negative premiums are often accompanied by outflows of US institutional funds, or indicate that the market may face some short-term pullback pressure.

BTC2.63%
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