Bitcoin trades at $62K while Coinbase premium remains negative for a record 77 days despite ETF inflows rebounding in July.
Bitcoin reached $62K as the Coinbase Bitcoin Premium Index extended its negative streak to 77 days, the longest since tracking began. The discount persisted despite US Bitcoin ETFs recording $172.43 million in net inflows for July, reversing June’s outflows.
The previous record negative streak lasted 40 days earlier this year, coinciding with Bitcoin’s drop from $95,000 to under $65,000. July’s ETF inflows marked a shift from prior months, though the premium’s decline suggests persistent selling pressure on Coinbase.
Ether funds experienced outflows during the same period, contrasting with Bitcoin’s renewed investor interest.