The Coinbase Premium Index for Bitcoin has been in negative territory for 60 consecutive days, marking a record low since tracking began. This is according to data from Coinglass.
Source: Coinglass.The last time the index recorded values above zero was on May 19. As of July 18, the index stands at -0.05%.
The previous longest streak in negative territory lasted 40 days, from January 16 to February 24.
The Coinbase Premium is often used to gauge the sentiment of retail investors in the U.S.—the lower the value, the weaker the interest in the asset.
At the time of writing, Bitcoin is trading at $64,100, having gained 1.5% over the past day.
15-minute BTC/USDT chart from Binance. Data: TradingView.The leading cryptocurrency has managed to recover from a drop following Friday's decline, which was triggered by a crash in the stock market, including the semiconductor sector.
It’s worth noting that from July 13 to July 17, Bitcoin ETFs saw a net inflow of $75.5 million, marking the second consecutive week of positive inflows.