The Coinbase Bitcoin Premium Index has recorded a negative premium of -0.1399% as of January 24, marking nine consecutive days of contango, according to Coinglass data. Over the past month, the index has shown negative premiums on 28 out of 30 days. This index tracks the price difference between Bitcoin on Coinbase and the global market average, serving as a key indicator of U.S. market capital flows and investor sentiment. A negative premium suggests that Bitcoin prices on Coinbase are lower than the global average, indicating potential selling pressure in the U.S. market and a possible increase in risk-aversion among investors. This trend may also reflect capital outflows and a reduced appetite for risk among market participants.