The Coinbase Premium Index for Bitcoin has hit a historic low, remaining in negative territory for 60 days, according to Coinglass data. The last time the index was above zero was on May 19, with the current reading at -0.05% as of July 18.
This surpasses the previous record of 40 consecutive days in negative territory, which occurred earlier this year from January 16 to February 24. The Coinbase Premium serves as an indicator of retail investor sentiment in the U.S., with lower values suggesting diminished interest in Bitcoin.
Currently, Bitcoin is trading at $64,100, reflecting a 1.5% increase over the last day. This rise comes after the cryptocurrency rebounded from a recent dip caused by downturns in the stock market, particularly affecting the semiconductor industry.
