ChainThink report, December 21: According to Coinglass data, Coinbase's Bitcoin premium index has remained in negative territory for seven consecutive days, currently standing at -0.044%.

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 market average price. This index serves as a key indicator for monitoring U.S. market capital flows, institutional investment sentiment, and shifts in market mood.

A positive premium indicates that Coinbase's price is higher than the global average, typically reflecting strong buying pressure in the U.S. market, active participation by institutional 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.