Bitcoin Coinbase Premium turns negative as BTC price drops, weekly losses top $829M

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Bitcoin Coinbase Premium Index. Source: CryptoQuant Crypto trader Ardi highlighted a break in both trendline support and the $77,300 liquidity zone. The trader linked the move to weakening spot demand, noting that the premium has posted consecutive red readings for the first time since BTC was near $67,000. Ardi said that price action during the Federal Open Market Committee (FOMC) meeting window could remain volatile, with rapid moves in either direction. Traders could place focus on the $74,500–$75,500 range as a key downside area tied to demand exhaustion. Onchain data adds to this view. Crypto analyst Darkfost noted that the weekly realized losses reached $829 million on a seven-day average, compared to $566 million in realized profits. The net realized profit briefly turned positive on April 9, then reversed within two weeks. Bitcoin net realized profit/loss [USD] 7DMA. Source: CryptoQuant The share of supply in profit stands at 64%, a level that has not historically supported sustained upside. This indicates weaker conviction among holders despite the recent rebound. Derivatives data shows strong sell-side activity on Binance. Crypto analyst Amr Taha noted that the 24-hour cumulative net taker volume dropped by $828 million on April 27, the lowest reading since late March. BTC cumulative net taker volume on Binance. Source: CryptoQuant Negative net taker volume indicates that the market's sell orders exceed its buy orders. The Binance taker buy/sell ratio has also fallen to 0.89, a level last recorded on March 29. That earlier reading aligned with a local pivot when Bitcoin tested $66,000, then recovered by 15% over the past 30 days. The current readings place both metrics back near prior exhaustion zones. Taha described the setup as closer to a short-term capitulation than a larger trend breakdown.

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