Coinbase Bitcoin Premium Hits 90-Day Record

The Coinbase Bitcoin Premium Index has extended its record-breaking negative streak to 90 consecutive days, CoinGlass data shows.

According to data from CoinGlass, the index has remained below zero from May 19 through August 16.

The latest reading stands at -0.1066%. This makes the current run the longest period of consecutive negative readings since the indicator was introduced.

The previous record was a 40-day negative streak recorded between Jan. 16 and Feb. 24.

The Coinbase Bitcoin Premium Index measures the percentage price difference between Bitcoin on Coinbase Pro and Binance.

A negative reading means that Bitcoin is trading at a discount on Coinbase relative to Binance (and vice versa).

The index is a measure of the price difference between the two exchanges.

On July 26, as the chat shows, the premium was already deeply negative, at roughly -0.08% to -0.10%. It subsequently remained below zero through much of July 26–30. The index briefly approached the zero line around July 28–30. However, there was no sustainable positive trend.

Things started to rapidly deteriorate around July 30 and July 31. The premium moved sharply lower (-0.14% to -0.15% at its weakest points).

It then recovered somewhat during the first days of August, but it remained firmly negative.