BlockBeats News, August 12th, according to CoinGlass data, Coinbase's Bitcoin Premium Index has been in a negative premium range for 86 consecutive days from May 19th to August 12th, with the latest reading at -0.1073%, 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 "10/11 Crash".

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