ChainThink report, March 8: According to Coinglass data, Coinbase's Bitcoin premium index has remained in negative premium for three consecutive days, currently at -0.0049%. Since 2026, there have been only six days with a positive premium.

ChainThink note: The Coinbase Bitcoin Premium Index measures the deviation of Bitcoin's price on Coinbase (a major U.S. exchange) relative to the global average market price. This index serves as a key indicator for monitoring U.S. market capital flows, institutional investment sentiment, and shifts in market psychology.

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