Bitcoin’s price movements on the Coinbase exchange in recent days give remarkable signals that the market has begun to stabilize. While BTC started to trade in the upper bands again after the last sharp fluctuation, the 14-day trend of the Coinbase Premium Index continued to remain upward. This situation shows that buyer interest continues despite large realizations in the short term.
The gap between Coinbase and Binance narrowed
On May 19, the Coinbase Premium Index fell to -0.087, its lowest level since March 31. The negative premium indicates weak demand from US-based investors for Bitcoin on Coinbase and means BTC is selling cheaper on Coinbase than on Binance. Still, this negative difference shows that a slight recovery trend has begun in the averages in recent weeks.
When BTC approached 82 thousand dollars on May 4, investors realized a profit of 14 thousand 600 BTC, or approximately 1.14 billion dollars, on the same day. According to data from CryptoQuant, on May 5, Bitcoin’s unrealized (uncovered) profitability rate increased to 17.7%, marking the highest level since June 2025.
CryptoQuant data points out that the 14-day moving average of the premium index is above the lowest levels since February and there is some calming in the selling pressure.
Although daily premium values continue to remain in the negative zone in the short term, the upward trend of the moving average indicates that the selling pressure on Coinbase is decreasing. The fact that Bitcoin holds in the range of 70 thousand – 75 thousand dollars shows that a strong accumulation zone has formed in this region.
Density on the network: Increase in Base blockchain revenues
Crypto analyst Amr Taha noted that trading volume remained high on Coinbase-affiliated networks during the recent pullback. In particular, on the Base blockchain developed by Coinbase, the revenue generated on May 19 reached approximately 972 thousand dollars, exceeding the levels at the end of March. Although the premium difference turned negative, it is noteworthy that the participation rate in the network remained constant.
Mini glossary: The Base blockchain is an Ethereum-compatible layer two network developed by Coinbase. It aims to provide lower transaction costs and faster transfers. Base works directly integrated with the Coinbase ecosystem.
Some technical data suggests buyers are resilient
BTC’s daily chart remains strong despite the rejection at $82,000. The price remained above the 100-day exponential moving average at $76,800; This level stands out as a dynamic support zone in the short term.
While the withdrawal remains limited in the reasonable value region between 76 thousand – 77 thousand dollars, comments are made that a recovery movement from this region may bring the target of 80 thousand – 82 thousand dollars back to the agenda. The $74,800 level is the critical support point; It is stated that if the price falls below this level, a strong downward trend may begin for the first time. In this case, $70 thousand stands out as psychological support.
Chart in futures market
Futures market data also reflects that demand for Bitcoin remains strong. According to market analyst CryptoOnChain, Bitcoin’s 30-day net taker transaction volume decreased from $243 million in April to $58 million on May 18, but it still remains on the positive side. Even in the recent correction environment, buyers are observed to be absorbing the selling pressure.
Although there are signs of short-term weakening, long-term trends and network activity remain positive, making signs of recovery stand out in the market. It is reported that spot demand has started to revive and network revenues are gaining support through platforms such as Base.
