According to Coinglass data, the Coinbase Bitcoin Premium Index has remained in negative territory for 33 consecutive days as of February 17th. The index currently stands at -0.0477%, marking the longest streak of uninterrupted negative premium since May 2023.
This period also surpassed the approximately 30-day negative premium streak experienced during what is known in the market as the “10/10 crash.” Analysts say this development offers an important signal regarding US-based investor behavior.
The Coinbase Bitcoin Premium Index is used as an indicator to show whether the BTC price on Coinbase is trading higher or lower than the global market average. A negative index means that the Coinbase price is below the global average.
According to market analysis, a negative premium generally indicates increased selling pressure in the US market, decreased investor risk appetite, and a more cautious stance. This is also associated with factors such as a strengthening safe-haven sentiment, capital outflows from crypto assets, or weakening institutional demand.
The extended negative streak reinforces the perception that Bitcoin is struggling to find strong buying support from the US, suggesting that market sentiment remains fragile in the short term.
*This is not investment advice.
