Coinbase Bitcoin Premium Index has been negative for 50 consecutive days, setting a new record for the longest streak in history

CoinFeed reported on July 8, according to Coinglass data, the Coinbase Bitcoin Premium Index has been in negative territory for 50 consecutive days, setting a new record for the longest streak, with the latest value at -0.0696%. The Coinbase Bitcoin Premium Index measures the difference between the Bitcoin price on Coinbase (a mainstream US exchange) and the global average market price. A negative premium usually reflects stronger selling pressure in the US market, declining investor risk appetite, heightened risk-aversion sentiment, or capital outflows.