Bitcoin (BTC) demand on Coinbase is showing early signs of market stabilization as BTC reclaims its upper range levels. The 14-day trend of the Coinbase Premium Index continues to rise, signaling sustained buyer interest despite $1.14 billion in profit-taking by traders. This is reported by Cointelegraph.com reports .
As of May 19, the Coinbase Premium Index fell to -0.087, the lowest level since March 31. A negative premium means Bitcoin prices are lower on Coinbase than on Binance, indicating a slight cooling in demand from US buyers. Profit-taking accelerated as the BTC price rose to $82,000, with holders realizing daily profits of 14,600 BTC.
According to CryptoQuant data, the long-term trend for Coinbase remains stable. The 14-day Simple Moving Average (SMA) of the premium index remains above the lows seen in February. Previous recoveries of this nature led to an increase in spot demand in March and a rise in Bitcoin prices to $110,000 in April-May.
Bitcoin is currently holding above the $70,000–$75,000 range, an area that previously served as a strong spot accumulation zone. Analyst Amr Taha noted that network activity related to Coinbase remains high. For instance, Base blockchain revenue reached nearly $972,000 on May 19, which is higher than the figures from late March.
The BTC daily chart maintains a bullish sentiment despite resistance near $82,000. The price is trading above the 100-day Exponential Moving Average (EMA) of around $76,800, which acts as a key dynamic support.
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