Coinbase's Bitcoin price has been discounted for 50 consecutive days compared to Binance, setting a record for the longest discount in history

As of July 8, 2026, the Coinbase Bitcoin Premium Index has been negative for 50 consecutive days, setting a record for the longest negative period in the history of the index. The latest reading is -0.0742%, and the price of Bitcoin on Coinbase is lower than that of Binance. The negative cycle began on May 19, 2026, surpassing the previous record of negative values for 40 consecutive days. As of early July 2026, the net outflow of US spot Bitcoin ETFs for the year is approximately $6 billion. In late June, the US spot Bitcoin ETF experienced a outflow of over $2.6 billion within 9 trading days, followed by a total inflow of $282 million for both Bitcoin and Ethereum ETFs.