The demand for Bitcoin (BTC), as seen on Coinbase, indicates that the market is stabilizing. BTC has reclaimed its upper limits of range highs. Coinbase Premium Index 14-day Trend remains in an Uptrend. This indicates that buyers are still interested despite the $1.14 Billion in Profits taken by traders.
The Coinbase Demand stabilizes despite negative readings
Coinbase Premium Index dropped It was the lowest reading since March 31, a -0.087. The negative premium indicates that Bitcoin is trading at a cheaper price on Coinbase compared to Binance. It signals a softer US demand.
BTC Profit-taking accelerated On May 4, as the price of Bitcoin climbed to $82,000 ($1.14 trillion), holders saw a daily profit of 14,600 BTC. CryptoQuant reported that unrealized profits margins rose to 17.7% in May, the highest since June 2025.
Bitcoin Net Realized Profit and Loss Source: CryptoQuant
Coinbase’s longer-term pattern is more steady. The premium index’s 14-day moving average has been above the February lows. Moving averages that were similar to those seen in March 2025 preceded a renewed demand for spot on Coinbase, just before Bitcoin reached $110,000 between April and May 2025.
Though the SMA has risen, there is still a downward trend in daily premiums. This indicates easing pressure on sellers. Bitcoin also continues to hold above the $70,000–$75,000 range, a zone that previously attracted strong spot accumulation.
Bitcoin Coinbase Premium 14-day SMA. Source: CryptoQuant
Amr Taha, Crypto Analyst noted Even though the market has been in a slump, activity within the Coinbase linked network remained elevated. While the Coinbase premium gap remained negative, Base blockchain revenue increased to $972,000 by May 19 compared with late March levels.
While spot demand slowly rebuilds, the divergence highlights stable network participation within Coinbase’s ecosystem.
The daily revenue generated by blockchains using different protocols. Source: CryptoQuant
Related: This Bitcoin price model targets ‘conservative’ $255K by year-end
BTC receives support from daily key trend
BTC’s daily chart still shows a bullish bias after its rejection around $82,000. The price is still trading above the 100-day moving average (EMA), which acts as dynamic support.
The current retracement has held within the $76,000–$77,000 fair-value gap, keeping buyers active near recent accumulation levels. A recovery from this zone could reopen the path toward $80,000–$82,000, while the larger supply area near $86,000–$90,000 sits higher.
BTC/USDT, one-day chart. Source: Cointelegraph/TradingView
It is important to note that $74,800 still remains the key price level. If the daily closing below this level occurs, it would signal the first breaking of the formation higher low and move the focus towards the psychological $70,000 support level.
Futures data continue to show demand resilience. CryptoOnChain market analyst reported Bitcoin’s average 30-day net taker volumes dropped from April to $58M on 18 May. The metric was positive throughout the recent correction. This indicates that BTC Futures buyers have continued to absorb the sell pressure at the current price.
BTC net taker volume. CryptoQuant
Related: Bitcoin sees fresh US sell-off as markets await Nvidia ‘biggest earnings event’
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Source: cointelegraph.com
