Coinbase Bitcoin Premium Index Stays Negative for 20 Days

Coinbase’s Bitcoin (BTC) Premium Index remained below zero for a 20th consecutive day on Oct. 13, falling to -0.1398% and showing continued weakness in U.S. market buying pressure.

The index compares Bitcoin’s price on Coinbase with the global market average. A negative reading generally reflects heavier selling pressure in the U.S. market and weaker risk appetite.

The latest figure was lower than the -0.1347% reading recorded June 5. It remained above the recent low of -0.1569% reached June 27, when the index had stayed negative for 40 consecutive days.

The decline also deepened over the previous 24 hours. The index stood at -0.12% on Oct. 12, marking its 19th straight day below zero, before moving lower on Oct. 13.

Negative readings also appeared in late March, late May and June.

The latest move adds to a pattern previously seen in the Coinbase Premium Index, which tracks the price difference between Coinbase and broader global markets.