PANews reported on June 6 that, according to Coinglass data, the Coinbase Bitcoin premium index has been in a negative premium state for 19 consecutive days, currently at -0.0401%.

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 usually reflects significant selling pressure in the US market, a decline in investor risk appetite, increased market risk aversion, or capital outflow.