Coinbase Bitcoin negative premium lasts for 95 days, setting a new historical record

From May 19th to August 21st, the Coinbase Bitcoin Premium Index remained in the negative premium range for 95 consecutive days, breaking the record for the longest consecutive negative premium since its launch. This record exceeds the 40 day period from January 16th to February 24th this year, as well as the 30 day period during last year's 1011 crash. The Coinbase Bitcoin Premium Index measures the price difference between Coinbase Pro and Binance, and a sustained negative index reflects weak buying or high selling pressure in the US market.