Bitcoin Coinbase Premium Turns Negative as Daily Realized Losses Hit $6 Billion
The Coinbase Premium measures the difference between Bitcoin prices on Coinbase in the United States and other exchanges. It is widely used as a gauge of demand from U.S. institutional and retail investors. A negative reading means Bitcoin is priced lower on Coinbase, signaling weaker U.S. buying that could curb the cryptocurrency’s rebound and intensify market volatility.
In late April, Bitcoin’s Coinbase Premium turned negative, adding to signs of market weakness. On-chain data showed that investors sold heavily and realized losses as Bitcoin recovered to about $78,000. Daily realized losses reached $5.97 billion, close to $6 billion, indicating that investors trapped in losing positions used the rebound to exit.
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The history behind this eventBitcoin Coinbase Premium Index Turns Negative as BTC Slides, Weekly Realized Losses Top $829 Million
The Coinbase Premium Index measures the price gap for Bitcoin between U.S.-based Coinbase and overseas exchanges and is widely viewed as a gauge of demand from U.S. institutions and spot-market investors. A negative reading means Bitcoin is trading at a discount on Coinbase, signaling weaker U.S. buying or increased selling pressure that could weigh on BTC’s near-term performance and market confidence.
The Coinbase Premium Index recently turned negative for the first time in three weeks and hit a nearly one-month low. Another price indicator watched by Bitcoin bulls fell to a six-week low. BTC briefly dropped to about $76,000, while network-wide realized losses topped $829 million for the week, showing that holders accelerated loss-taking as prices declined.
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