BlockBeats News, August 8th, according to CoinGlass data, the Coinbase Bitcoin Premium Index has been in a negative premium range for 82 consecutive days from May 19th to August 8th, with the latest reading at -0.0759%, setting a new record for the longest consecutive negative premium since the launch of the index.

The previous record was a consecutive 40 days from January 16th to February 24th this year, surpassing the approximately 30 days of consecutive negative premium during last year's "1011 Crash".

The Coinbase Bitcoin Premium Index is used to measure the Bitcoin price difference between Coinbase Pro and Binance. A sustained negative index usually indicates that the Coinbase price is relatively lower, reflecting weak buying pressure or significant selling pressure in the U.S. market. However, it is not appropriate to solely attribute institutional outflows based on this index.