The performance of Bitcoin on a certain leading platform over the past two weeks has been interesting—its premium index has remained negative for 14 consecutive days, currently at -0.08%.

What is the premium index? Simply put, it is the difference between Bitcoin prices on that platform and the global average price. What does it mean now that it is in negative premium?

Selling pressure has clearly increased. Investors in the US market are selling, which reflects two issues: first, risk appetite is declining, and people are becoming more cautious; second, there is a strong risk-averse sentiment or capital outflow. These signals confirm each other, indicating that market sentiment is indeed shifting.

A negative premium persisting for two weeks without recovery is not just short-term volatility; it is a trend signal worth paying attention to.