Coinbase BTC premium stays negative for record 78 straight days

Coinbase BTC premium stays negative for record 78 straight days The Coinbase Bitcoin Premium Index has remained in negative territory for 78 consecutive days from May 19 through today, according to CoinGlass. As of 9:00 a.m. UTC on Aug. 4, the latest reading stood at -0.1145%. The previous longest stretch of negative premium lasted 40 days, from Jan. 16 to Feb. 24 this year. With buying pressure from U.S. investors relatively subdued, the duration of the negative premium has continued to set new records. Historical data show that extended periods of negative premium have often coincided with slower buying by U.S. investors and weaker institutional demand.