according to Coinglass data, the Coinbase Bitcoin premium index has been in negative premium for 5 consecutive days, currently at -0.065%.

The Coinbase Bitcoin premium index is used to measure the difference between the Bitcoin price on Coinbase (a mainstream US trading platform) and the global market average price. This index is an important indicator to observe capital flows in the US market, institutional investment enthusiasm, and changes in market sentiment. A positive premium indicates that the Coinbase price is higher than the global average, usually meaning: strong buying in the US market, active participation of institutions or compliant funds, abundant dollar liquidity, and optimistic investment sentiment. A negative premium indicates that the Coinbase price is lower than the global average, usually reflecting: significant selling pressure in the US market, a decline in investors' risk appetite, rising market risk aversion sentiment, or capital outflow.