Bitcoin's widely tracked Coinbase Premium turns negative as realized losses spike to $6 billion

A metric tracking U.S. spot demand has flipped red just as onchain data shows realized losses surging to $5.97 billion.\nWhat to know : A key gauge of U.S. demand for bitcoin, the Coinbase Premium, turned negative this week for the first time since early April, signaling weaker buying interest in the world's largest economy. Onchain data show bitcoin holders realized about $5.97 billion in losses on April 24 as the price neared $78,000, indicating that investors who bought at even higher prices used the rebound to exit rather than reenter. Bitcoin has slipped to under $76,000, and analysts are watching whether realized losses decline, a sign that the overhang from underwater supply may be easing.