Coinbase Bitcoin Premium Index Stays Negative for 20 Days

Coinbase’s Bitcoin (BTC) Premium Index remained below zero for a 20th consecutive day on Oct. 13, falling to -0.1398% and showing continued weakness in U.S. market buying pressure. The index compares Bitcoin’s price on Coinbase with the global market average. A negative reading generally reflects heavier selling pressure in the U.S. market and weaker risk appetite. The latest figure was lower than the -0.1347% reading recorded June 5. It remained above the recent low of -0.1569% reached June 27, when the index had stayed negative for 40 consecutive days. The decline also deepened over the previous 24 hours.