Data: The Coinbase Bitcoin Premium Index has been in negative premium for 40 consecutive days

Coinglass data shows that the Coinbase Bitcoin Premium Index has been in a negative premium state for 40 consecutive days, currently reported at -0.0467%, setting a record for the longest "consecutive negative" period since the index was launched, surpassing the approximately 30 days of continuous negative premium during the "1011 crash."

The Coinbase Bitcoin Premium Index is used to measure the difference between the Bitcoin price on Coinbase (a mainstream trading platform in the U.S.) 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.