Data: The Coinbase Bitcoin Premium Index has been in negative premium for 33 consecutive days, setting the longest "negative streak" record since 2023

According to Coinglass data, the Coinbase Bitcoin premium index has been in negative premium for 33 consecutive days, currently reported at -0.0477%, setting the longest "consecutive negative" record since 2023, surpassing the approximately 30 days of consecutive negative premium during the "1011 crash."

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 decline in investor risk appetite, heightened market risk aversion, or capital outflows.