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According to CoinGlass data, the Coinbase BTC premium index has remained negative for 31 straight days and was last recorded at -0.1353%.
The index measures the BTC price gap between U.S.-based Coinbase and global exchange Binance. A sustained negative reading is generally interpreted as relatively weaker buying interest in the U.S. market or stronger selling pressure. The index had previously ended a 98-day negative streak on Aug. 25, when it rose to 0.0052%. Still, the premium index alone cannot determine whether U.S. institutional investors are pulling money out of the market.