Bitcoin's Coinbase Premium Index Hits 50-Day Negative Record as BTC Trades Below $63.2K

According to Coinglass data, Bitcoin's Coinbase Premium Index has experienced a 50-day consecutive negative premium, the longest streak on record, indicating institutional net selling rather than aggressive buying in the United States. Simultaneously, Bitcoin's Net Unrealized Profit/Loss (NUPL) saw its 30-day average cross below the 100-day average in early June, signaling declining investor profitability and waning market momentum despite both averages remaining above zero.

BTC traded at $63,148 at press time, up nearly 7% over the previous week but still below the $80,000 level reached in early May. On a positive note, Bitcoin ETFs finally showed net inflows after an eight-week outflow streak, suggesting potential renewed institutional interest.