Data: Coinbase's Bitcoin has been at a discount compared to Binance for 50 consecutive days, setting a record for the longest duration

As of July 7 to 8, 2026, the Coinbase Bitcoin Premium Index has been negative for 50 consecutive days, setting a record for the longest negative period since the index has been recorded. The latest reading is approximately -0.0742%, indicating that the price of Bitcoin on the U.S. trading platform Coinbase is lower than that on Binance. This index compares the Bitcoin prices between Coinbase and Binance. A negative reading typically corresponds to weaker buyer demand in the U.S. compared to broader international market demand; this round of negative values began on May 19, 2026, surpassing the previous record of 40 consecutive days of negative values.

As of early July 2026, the U.S. spot Bitcoin ETF has seen a net outflow of about $6 billion this year. In late June, the U.S. spot Bitcoin ETF experienced outflows of over $2.6 billion within 9 trading days, followed by a total inflow of $282 million for Bitcoin and Ethereum ETFs.