Data Coinbase Bitcoin Premium Index has been at a negative premium for 8 consecutive days. Purchasing power in the U.S. market continues to be sluggish

The Coinbase Bitcoin Premium Index has been at a negative premium for 8 consecutive days, tentatively trading at-0.0573%, and purchasing power in the U.S. market continues to be sluggish. The Coinbase Bitcoin Premium Index is used to measure the difference between the Bitcoin price on Coinbase relative to the global market average price. Negative premiums usually reflect greater selling pressure in the U.S. market, reduced investor risk appetite, rising market risk aversion or capital outflows.