The Coinbase Bitcoin Premium Index has remained negative for 14 consecutive days, currently at -0.0702% as of December 28, 2025. This index reflects the difference between Bitcoin's price on Coinbase and the global average, with a negative value indicating higher selling pressure in the U.S. market. The sustained negative premium suggests a lower investor risk appetite and potential capital outflows. Additionally, the fear and greed index indicates a cautious sentiment among market participants.