Coinbase premium has been declining for 50 consecutive days. Are institutions collectively fleeing or brewing a big move? History doesn’t repeat itself, but it often rhymes.

According to Coinglass data, the Coinbase Bitcoin premium index has been in a negative premium range for 50 consecutive days since May 19, with the latest reading at -0.0742%, setting a new record for the longest consecutive negative premium since the index was launched. Previously, the index was in negative premium for 40 consecutive days from January 16 to February 24 this year, surpassing the approximately 30-day consecutive negative premium record during the "1011 crash." Historical data shows that prolonged negative premiums are usually accompanied by outflows from U.S. institutional funds, which may indicate short-term market correction pressure.