Coinbase Bitcoin Premium Index Records Negative Value for 51 Consecutive Days, US Market Purchasing Power Weakens

The Coinbase Bitcoin Premium Index has recorded a negative value for 51 consecutive days, with the latest reading at -0.1%. This index measures the price difference between Bitcoin on Coinbase Pro and Binance. A sustained negative value typically indicates that Coinbase's prices are relatively lower, reflecting weak buying interest or significant selling pressure in the US market. On August 24, the index signaled a positive value for the first time since May 19, reporting at 0.0052%, ending a streak of 97 days in negative premium territory.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.