According to Coinglass data, the Coinbase Bitcoin Premium Index has been in negative territory for 21 consecutive days, currently at -0.0621%, indicating continued weak purchasing power in the US market.
Note: The Coinbase Bitcoin Premium Index measures the difference between the price of Bitcoin on Coinbase and the global market average price.
Index Calculation Formula:
Premium Index = (Coinbase Price - Global Average Price) / Global Average Price
The premium index is positive when the price of Bitcoin on Coinbase is higher than the global average price; conversely, it is negative when the price is lower.
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