VERIFIEDBy Xavier Rivera· ·1 min read
Coinbase Premium Turns Negative as Bitcoin Losses Hit $6B
Bitcoin's Coinbase Premium turns negative, indicating fading U.S. demand amid a rally. Onchain data show $5.97 billion in realized losses on April 24, with U.S. investors exiting faster than foreign counterparts.
Source:CoinDesk
TL;DRAI · 60 sec read
The Coinbase Premium, a key gauge of U.S. demand for bitcoin, turns negative this week for the first time since early April, signaling weaker buying interest in the world's largest economy.
CryptoQuant data show the premium, the price difference between Coinbase—mainly serving U.S. customers—and offshore exchanges, ran positive from April 8 through April 22. That period took bitcoin from $66,000 to a local high near $78,000, with the premium peaking around April 22 before rolling over.
A persistent negative reading indicates American investors pay less than the rest of the world, either selling more aggressively or not participating. Coinbase serves as a proxy for U.S. institutional and dollar-denominated flows.
Onchain data reveal bitcoin holders realized $5.97 billion in losses on April 24 as the price neared $78,000. CryptoQuant analyst Axel Adler Jr. reports the sellers likely bought between $80,000 and $95,000 in late 2025 and early 2026, using the rebound to exit.
The Bitcoin Realized Loss 7-day sum, tracking coins moved at a loss, declines from its April 24 peak to $4.7 billion by April 28, suggesting the seller cohort thins. Bitcoin trades around $76,000, with analysts watching if realized losses continue falling as underwater supply eases.
CryptoQuant data show the premium, the price difference between Coinbase—mainly serving U.S. customers—and offshore exchanges, ran positive from April 8 through April 22. That period took bitcoin from $66,000 to a local high near $78,000, with the premium peaking around April 22 before rolling over.
A persistent negative reading indicates American investors pay less than the rest of the world, either selling more aggressively or not participating. Coinbase serves as a proxy for U.S. institutional and dollar-denominated flows.
Onchain data reveal bitcoin holders realized $5.97 billion in losses on April 24 as the price neared $78,000. CryptoQuant analyst Axel Adler Jr. reports the sellers likely bought between $80,000 and $95,000 in late 2025 and early 2026, using the rebound to exit.
The Bitcoin Realized Loss 7-day sum, tracking coins moved at a loss, declines from its April 24 peak to $4.7 billion by April 28, suggesting the seller cohort thins. Bitcoin trades around $76,000, with analysts watching if realized losses continue falling as underwater supply eases.
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