# Bitcoin Hits $62K as Coinbase Premium Marks 77-Day Negative Streak US institutional investors continue to exert selling pressure on Bitcoin. - **Source:** [Cointelegraph.com News](https://brifing.si/source/2e81e982-0137-4db0-8ac2-351f37085775) - **Published:** 2026-08-03 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/abead427-eba5-4cc8-8921-bda92d1c5910 ## Bitcoin Reaches $62K Bitcoin traded at $62,622 on Monday, marking one of the highest levels since May. However, the Coinbase Premium Index indicates weak demand from US institutional investors, remaining negative for 77 consecutive days. This suggests that selling pressure from US-based institutions persists. The index's prolonged negative streak highlights a significant divergence between US and global market sentiment. ## Coinbase Premium Hits Record Negative Streak As of August 3, the Coinbase Premium Index has stayed negative for 77 days, setting a new record. The index was recorded at -0.1369%, showing that Bitcoin prices on Coinbase consistently trade lower than on international exchanges. Markus Thielen of 10x Research noted that this indicates US institutional investors are still liquidating their Bitcoin holdings. This trend has been ongoing since May. ## US Institutional Investors Keep Selling Markus Thielen explained that the persistent discount on Coinbase reflects stronger selling pressure than buying demand from US institutions. He told Cointelegraph that this trend has been evident since May, with no signs of reversal. The extended negative premium suggests that institutional investors are not yet ready to re-enter the market, despite Bitcoin's price recovery to $62K. ## ETFs See Net Inflows in July US Bitcoin ETFs recorded $172.43 million in net inflows in July, according to Sosovalue. This reversed the heavy outflows seen in June. However, the continued negative Coinbase Premium Index suggests that institutional selling pressure remains dominant. The divergence between ETF inflows and the premium index indicates mixed signals in the market. ## Previous Negative Streak Lasted 40 Days Earlier this year, the Coinbase Premium Index experienced a 40-day negative streak from January 16 to February 24. During that period, Bitcoin dropped from $95,000 to under $65,000. The current 77-day streak has now surpassed that record, underscoring the prolonged institutional selling pressure. This extended downturn raises questions about when US investors might return. ## Divergence Between US and Global Markets The persistent discount on Coinbase compared to global exchanges reflects stronger selling pressure in the US. Data from Coinglass shows this trend has continued since May. Meanwhile, international markets exhibit stronger buying interest. This divergence highlights differing investor sentiment between US and global participants, with US institutions remaining cautious. ## Bitcoin ETFs Show Signs of Recovery US Bitcoin ETFs attracted $172.43 million in net inflows in July, a positive shift after June's outflows. However, the Coinbase Premium Index's ongoing negative streak suggests that institutional selling has not yet abated. Market participants are watching to see if ETF inflows will eventually offset the selling pressure or if the divergence will persist in the coming weeks. ## A Critical Market Indicator The 77-day negative streak in the Coinbase Premium Index signals that US institutional confidence in Bitcoin has not fully recovered. While ETF inflows show some renewed interest, the persistent discount suggests broader caution. Market observers are closely monitoring these conflicting signals to gauge Bitcoin's next move. The coming weeks could determine whether institutional sentiment shifts or selling pressure continues. ## Sources covering this story - https://cointelegraph.com/markets/bitcoin-hits-62k-while-coinbase-premium-hits-77-day-negative-streak?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._