Coinbase's Bitcoin Premium Index has remained negative for 25 consecutive days, currently standing at -0.0864%, according to Coinglass data. This index, which measures the price difference between Bitcoin on Coinbase and the global market average, has shown positive values only twice in 2026, with 0.011% on January 6 and 0.0023% on January 15. A negative premium suggests lower Bitcoin prices on Coinbase compared to the global average, indicating potential selling pressure and reduced investor risk appetite in the US market.