Data: The Coinbase Bitcoin premium index has been in negative premium for 11 consecutive days, and the purchasing power in the US market has once again fallen into a prolonged slump

According to Coinglass data, the Coinbase Bitcoin premium index has been in negative premium for 11 consecutive days, currently reported at -0.0545%, as purchasing power in the U.S. market continues to remain sluggish. Previously, it had been in positive premium for 19 consecutive days.

The Coinbase Bitcoin premium index is used to measure the difference between the Bitcoin price on Coinbase and the global market average price. A negative premium typically reflects significant selling pressure in the U.S. market, a decrease in investor risk appetite, an increase in market risk aversion, or capital outflows.