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According to CoinGlass, the Coinbase Bitcoin premium index remained negative for a fifth straight day, standing at -0.042% as of 12:00 a.m. UTC on Sept. 11. The index had turned positive at 0.0052% on Aug. 24 for the first time since May 19, ending its longest-ever negative stretch of 97 days.
The Coinbase premium index tracks the BTC price gap between Coinbase and Binance, and a prolonged negative reading is generally interpreted as a sign of relatively weaker BTC buying demand in the U.S. market.