Coinbase Bitcoin Premium Index stays negative for 75 straight days

The Coinbase Bitcoin Premium Index has remained in negative territory for 75 straight days since May 19, according to CoinGlass, with the latest reading at -0.0973%. Earlier this year, the index posted a 40-day negative streak from Jan. 16 to Feb. 24, setting what was then the longest run since the index was introduced. That surpassed the roughly 30-day negative stretch seen during the sharp market drop on Oct. 11 last year. Historical data shows extended negative premiums have often coincided with outflows from U.S. institutional investors.