According to Cointelegraph, Bitcoin fell below $63,000 on Monday, trading at approximately $62,362, while the Coinbase Premium Index has recorded negative values for 77 consecutive days, setting a new historical record for the longest period of negative premium. According to Coinglass data, as of Monday, the latest premium rate stood at -0.1369%, indicating that BTC prices on Coinbase have consistently remained below those on international exchanges. Markus Thielen, head of 10x Research, stated that the persistent discount suggests that selling pressure from U.S. institutional investors continues to outweigh buying demand, with U.S.-based institutions still actively reducing their Bitcoin holdings.
Coinbase Premium Index Hits Record 77 Consecutive Days of Negative Premium
TechFlowShare
Summary
Bitcoin fell below $63,000 to $62,362 on Monday, with on-chain trading signals indicating sustained downward pressure. Coinbase’s Premium Index reached a record 77 consecutive days of negative readings, with the latest rate at -0.1369%, showing that BTC on Coinbase remains below global prices. Markus Thielen of 10x Research noted that U.S. institutions continue to sell, keeping the risk-to-reward ratio tilted to the downside.
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