ChainThink report, December 24: According to Coinglass data, the Coinbase Bitcoin premium index has remained in negative territory for 10 consecutive days, currently standing at -0.0648%.

ChainThink note: The Coinbase Bitcoin premium index measures the deviation of Bitcoin's price on Coinbase (a major U.S. trading platform) from the global average market price. This indicator serves as a critical metric for monitoring capital flows, institutional investment activity, and market sentiment within the U.S. market.

A positive premium indicates that Coinbase's price is above the global average, typically reflecting strong buying pressure in the U.S. market, active participation by institutions or compliant capital, ample USD liquidity, and an optimistic investment sentiment. A negative premium indicates that Coinbase's price is below the global average, generally signaling significant selling pressure in the U.S. market, declining risk appetite among investors, rising safe-haven demand, or capital outflows.