Coinbase BTC Premium Index Records Five Consecutive Negative Days as US Buying Pressure Weakens

CoinGlass reports that Coinbase's Bitcoin premium index has recorded five consecutive negative days, with the figure standing at -0.042% as of 9 a.m. on November 11. The index turned positive for the first time since May 19 at 0.0052% on August 24 after ending a record 97-day stretch of negative readings. Coinbase's premium index reflects the price difference between Coinbase and Binance for BTC, with sustained negativity indicating relatively weaker buying pressure in the US market.