According to CoinMeta, data from CoinMeta shows that the Coinbase Bitcoin premium index has been in a negative premium range for 80 consecutive days (since May 19th). The latest value is -0.0978%. Historical data indicates that long-term negative premiums are often accompanied by the withdrawal of institutional funds from the United States, so it is necessary to be wary of short-term correction pressures. Previously, this index was in a negative premium state for 40 consecutive days from January 16th to February 24th of this year, setting a new record for the longest consecutive negative period since the introduction of this indicator, exceeding the approximately 30-day consecutive negative premium period during the “1011 crash.”