The premium index of Bitcoin on a certain leading compliant platform has remained negative for three consecutive days, with the latest data showing -0.0837%. What does this mean? In simple terms, this indicator reflects the relationship between the platform's price and the market average price—negative values indicate that the price is relatively low, and bearish market sentiment dominates. More notably, over the past 26 days, 25 days have been in negative premium. This sustained negative premium trend suggests that institutions and large traders have been cautious about Bitcoin recently, with market participants more inclined to lower their quotes, which often indicates that selling pressure may persist in the short term.