Coinbase BTC premium stays negative for record 91 days

Coinbase’s Bitcoin premium index has remained negative for 91 straight days since May 19, the longest such stretch on record, according to CoinGlass. As of 10:30 a.m. UTC today, the latest reading stood at -0.1032%. The previous longest negative streak lasted 40 days, from Jan. 16 to Feb. 24 this year. The Coinbase premium index measures the Bitcoin price gap between Coinbase and global exchanges. A prolonged negative reading indicates BTC buying demand in the U.S. market is relatively weaker than in global markets. CryptoRank said a return to positive territory could be interpreted as an early sign that capital inflows from U.S. investors are resuming and could help support a market rally.