Coinbase Bitcoin Premium Index Extends Negative Run to 39 Days
Photo: TokenPost
Coinbase’s latest premium reading showed Bitcoin (BTC) priced below its global reference level for a 39th consecutive day, extending a sign of soft U.S. demand for the cryptocurrency. The index stood at -0.17% in its latest reading. It compares Bitcoin’s price on Coinbase with a reference price based on markets worldwide. A negative figure means Coinbase’s quote is lower than that reference; at -0.17%, it was 0.17% below the benchmark. A negative premium is generally linked to heavier selling pressure in U.S. markets. It may also reflect lower investor appetite for risk, a more defensive mood or capital outflows.
Source: TokenPost
