Hupzy (Spot On Chain)|Aug 04, 2026 11:07
The Coinbase BTC Premium Index has been negative for 𝟳𝟴 𝗰𝗼𝗻𝘀𝗲𝗰𝘂𝘁𝗶𝘃𝗲 𝗱𝗮𝘆𝘀 — the longest streak on record — with a latest reading of -𝟬.𝟭𝟭𝟰𝟱%. The index tracks the BTC price gap between Coinbase and other major exchanges, gauging US market demand.
𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: A record-long negative premium is a structural demand signal, not noise. Sustained US selling pressure at this duration suggests institutional or retail distribution that hasn't reversed. This is a bearish backdrop for BTC — any long thesis should account for the persistent US demand deficit. Watch for a premium flip to positive as a potential inflection signal.
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