The Coinbase Premium index has fallen back into negative territory, pointing to weaker spot market demand from US institutional crypto investors.

CoinGlass data showed the index remaining below zero, suggesting that prices on Coinbase Pro are trading at a discount to other major global exchanges.

The Coinbase Premium index tracks the price gap between Coinbase Pro and leading overseas crypto trading platforms.

A negative reading usually indicates that US-based buyers are showing less urgency to accumulate crypto assets through Coinbase.

Market analysts often treat the index as a useful gauge of institutional demand because Coinbase is widely used by professional investors in the United States.

The latest negative reading suggests that large…