Data: Coinbase Bitcoin premium index briefly turned positive this week before turning negative again

According to Coinglass data, the Coinbase Bitcoin premium index briefly turned positive this Monday but has now turned negative again, currently reported at -0.103%, indicating that purchasing power in the U.S. market continues to weaken.

The Coinbase Bitcoin premium index is used to measure the difference between the Bitcoin price on Coinbase and the global market average price. A negative premium typically reflects significant selling pressure in the U.S. market, a decline in investor risk appetite, an increase in market risk aversion, or capital outflows.