Coinbase Bitcoin Premium Index Stays Negative for 39 Days at 0.0405%

Coinbase's Bitcoin Premium Index remained negative for 39 consecutive days as of Feb. 23, standing at 0.0405%, Coinglass data show. The index measures the price difference between Coinbase's Bitcoin and the global market average. The streak surpasses the roughly 30-day run during the "1011 crash," with only two trading days showing a positive premium since 2026.