The Coinbase Bitcoin Premium Index has recorded a negative premium for 75 consecutive days, setting a new record.

According to Odaily, the Coinbase Bitcoin Premium Index has been in negative territory for 75 consecutive days (from May 19th to present), with a latest value of -0.0959%. Previously, the index held a negative premium for 40 consecutive days from January 16th to February 24th this year, setting a record for the longest consecutive negative premium since the index's inception, surpassing the approximately 30 consecutive negative premium days during the "10/11 crash." The Coinbase Bitcoin Premium Index measures the difference between the price of Bitcoin on Coinbase and the global market average price. A negative premium typically reflects significant selling pressure in the US market, decreased investor risk appetite, increased market risk aversion, or capital outflows.