Data shows that the Coinbase Bitcoin premium index has recorded negative values for 8 consecutive days, indicating weak purchasing power in the U.S. market

According to Coinglass data, the Coinbase Bitcoin premium index has been in negative premium for 8 consecutive days, currently reported at -0.1197%. Bitcoin spot ETFs continue to see outflows, and purchasing power in the U.S. market is weak.

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 decline in investor risk appetite, increased market risk aversion, or capital outflows.