Data: The Coinbase Bitcoin Premium Index has recorded negative values for 38 consecutive days, as purchasing power in the U.S. market continues to remain sluggish

According to CoinGlass data, the Coinbase Bitcoin Premium Index has recorded negative values for 38 consecutive days, with the latest at -0.2434%, as purchasing power in the U.S. market continues to remain sluggish.

Previously, on August 24, the Coinbase Bitcoin Premium Index showed a positive signal for the first time since May 19, reporting 0.0052%, temporarily ending the longest historical negative premium period of 97 days. The Coinbase Bitcoin Premium Index is used to measure the price difference of Bitcoin between Coinbase Pro and Binance. A sustained negative index typically indicates that Coinbase's prices are relatively low, reflecting weak buying interest or significant selling pressure in the U.S. market, but it should not be solely relied upon to conclude that institutional funds are flowing out.