Data: Coinbase Bitcoin Premium Index recorded negative values for 39 consecutive days

According to Coinglass data, the Coinbase Bitcoin premium index has recorded negative values for 39 consecutive days, with the latest at -0.17%, indicating a continued weakness in purchasing power in the U.S. market.

The Coinbase Bitcoin premium index is used to measure the difference between the Bitcoin price on Coinbase and the global market average price. A negative premium typically reflects significant selling pressure in the U.S. market, a decrease in investor risk appetite, heightened market risk aversion, or capital outflows.