The Coinbase Bitcoin Premium Index has recorded negative values for 38 consecutive days, with purchasing power in the U.S. market continuing to languish in the doldrums.

October 31 - According to CoinGlass data, the Coinbase Bitcoin Premium Index has recorded negative values for 38 consecutive days, with the latest reading at -0.2434%, as purchasing power in the U.S. market continues to languish.

Previously, on August 24, the Coinbase Bitcoin Premium Index showed a positive signal for the first time since May 19, registering 0.0052%, briefly ending the longest negative premium streak in history at 97 consecutive days.

The Coinbase Bitcoin Premium Index measures the Bitcoin price spread between Coinbase Pro and Binance. A persistently negative index typically means Coinbase's quotes are relatively lower, which can reflect weak buying interest or heavy selling pressure in the U.S. market, but it should not be used alone to directly conclude that institutional capital is flowing out.