Coinbase bitcoin premium has been negative for 80 days

On 7 August, according to Coinglass data, the Coinbase bitcoin premium had been in negative range for 80 consecutive days (19 May to date), the latest of which was -0.0978 per cent. Historical data show that long-term negative premiums often accompany the departure of United States institutional funds and the need to guard against short-term retrenchment pressures. Previously, the index had been in a negative premium for 40 consecutive days, from 16 January to 24 February of this year, setting the record of the highest “relative negative” since its introduction, exceeding the number of days of the continuous negative premium of about 30 days during the 10-11 crash period。