Coinbase Bitcoin Premium has been negative for 75 consecutive days, setting a new record for the longest in history

August 1st, according to CoinGlass data, Coinbase's Bitcoin Premium Index has been in a continuous negative premium zone for 75 days from May 19th to August 1st, with the latest reading at -0.0959%, setting a new record for the longest consecutive negative premium since the launch of the index.

The previous record was a consecutive 40 days from January 16th to February 24th this year, which also exceeded the approximately 30-day consecutive negative premium period during last year's "10/11 crash".

The Coinbase Bitcoin Premium Index is used to measure the Bitcoin price difference between Coinbase Pro and Binance. A continuous negative index usually indicates that Coinbase's quote is relatively lower, which may reflect a weaker buying interest in the U.S. market or significant selling pressure. However, it is not appropriate to conclude solely based on this indicator that institutional funds are flowing out.