according to Coinglass data, the Coinbase Bitcoin premium index has been in negative premium for 33 consecutive days, currently at -0.0477%, marking the longest "continuous negative" record since May 2023, surpassing the approximately 30 consecutive negative premium days during the "1011 crash" period.

The Coinbase Bitcoin premium index measures the difference between the Bitcoin price on Coinbase (a major US trading platform) and the global market average price. A negative premium usually reflects higher selling pressure in the US market, decreased investor risk appetite, increased market risk aversion sentiment, or capital outflows.