Bitcoin Sentiment Remains Weak on Coinbase
According to recent data from Coinglass, the Coinbase Bitcoin premium index has remained negative for 39 consecutive days, currently at -0.0405%. This duration has surpassed the previous record of approximately 30 days during the '1011 crash', signaling deepening market pessimism.
Understanding the Premium Index
The Coinbase Bitcoin premium index measures the price deviation between Coinbase and the global average. A prolonged negative premium typically indicates strong selling pressure in the U.S. market, declining investor risk appetite, and rising demand for safe-haven assets.
- Current premium level: -0.0405%
- Consecutive negative days: 39
- Historical comparison: ~30 days during the 1011 crash
Market Signals to Watch
Since 2026, the index has only turned positive on two trading days. Such a rare phenomenon suggests the market may be undergoing significant consolidation, warranting close attention from traders and analysts.