Bitcoin's Coinbase Premium Index Hits Record 44 Consecutive Days Negative on Weak Institutional Demand

BTC-0.77%
According to on-chain analyst Alex Bayarchyk, on June 21 the Coinbase Premium Index remained negative for a record 44 consecutive days, signaling weak institutional demand in the U.S. market. The metric, which measures the price difference between bitcoin on Coinbase Advanced and Binance, indicates that BTC is trading at a discount on the U.S. exchange compared to global platforms, suggesting institutions are selling more than retail traders. Cryptoquant analyst Darkfost noted that "professional demand isn't showing up," while retail participants remain active on Binance.
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