Coinbase BTC premium stays negative for 86 days, extending record streak

Coinbase’s Bitcoin premium index has remained negative for 86 straight days since May 19, extending its longest streak on record, according to CoinGlass. The latest reading stood at -0.1027% as of 8:30 a.m. UTC on Aug. 12. 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 weak, the duration of the negative premium has continued to set fresh records. Historical data shows prolonged negative premium periods have often coincided with slower buying by U.S. investors and weaker institutional demand.