The Coinbase Bitcoin Premium Index has recorded a negative premium for 21 consecutive days, with its current value at -0.0989%. This extended period of negative premium indicates a trend where the market price of Bitcoin on Coinbase is lower compared to other exchanges. The index is a key metric for assessing the demand and supply dynamics of Bitcoin trading on this platform. The ongoing negative premium may reflect broader market sentiments or specific trading behaviors among Coinbase users. Analysts often monitor such indices to gauge market health and investor confidence in Bitcoin trading.
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