Coinbase Bitcoin Premium Index Negative for 31 Days: Signal of Weakening US Demand! Here Are the Details

According to data from the cryptocurrency data platform CoinGlass, the Coinbase Bitcoin (BTC) premium index has been in negative territory for 31 consecutive days. The index, recorded at -0.1353% in the latest measurement, suggests that Bitcoin demand in the US market may be weaker compared to global markets. The Coinbase Bitcoin premium index measures the difference in BTC price between the US-based cryptocurrency exchange Coinbase and the globally operating Binance. The index being in positive territory indicates that Bitcoin is trading at a higher price on Coinbase compared to Binance.