- Coinbase’s Bitcoin premium index has now recorded a negative trend for seven consecutive trading sessions.
- A negative index indicates that the Bitcoin price on Coinbase is relatively low, suggesting diminished buying interest in the US market.
- However, the premium index by itself cannot conclusively show whether US institutional capital is exiting the market.
Periodical Forecast Trend Report
Interest in purchasing Bitcoin within the US market has declined once more, as evidenced by Coinbase’s Bitcoin premium index remaining negative for a week straight.
According to a report by crypto news outlet BlockBeats, referencing CoinGlass data from September 13, Coinbase’s Bitcoin premium index has remained below zero throughout the last week, with the most recent value at -0.0205%.
This index measures the price difference of Bitcoin between Coinbase and Binance. A negative value implies that Bitcoin is priced lower on Coinbase, indicating reduced buying demand or heightened selling activities in the US market.
This premium index briefly turned positive on August 24, aligning at 0.0052% for the first time since May 19, ending a remarkable streak of 97 days with negative readings.
Nonetheless, relying solely on the premium index does not provide a clear picture of whether institutional investments are withdrawing from the US marketplace.