PANews reported on February 17th that, according to Coinglass data, the Coinbase Bitcoin Premium Index has been in negative territory for 33 consecutive days, currently at -0.0477%, marking the longest consecutive negative period since May 2023. This surpasses the approximately 30 consecutive days of negative premiums during the "10/11 crash." The Coinbase Bitcoin Premium Index measures the difference between the price of Bitcoin on Coinbase (a major US trading platform) and the average price in the global market. A negative premium typically reflects significant selling pressure in the US market, decreased investor risk appetite, increased market risk aversion, or capital outflows.