BTC net realized profit and loss falls to its lowest level since early April, but key support levels and network activity remain resilient.
Bitcoin’s net realized profit and loss metric has declined to a six-week low, signaling reduced profitability for recent buyers. Despite this, BTC continues to trade above the $70,000–$75,000 range, a zone historically linked to strong spot accumulation.
The 14-day simple moving average of the Coinbase Premium Index remains above February lows, suggesting easing sell-side pressure. Similar trends in March 2025 preceded a rally toward $110,000 in April-May. Meanwhile, the Base blockchain revenue hit nearly $972,000 on May 19, exceeding late-March levels.
BTC price holds above its 100-day EMA near $76,800, with buyers active in the $76,000–$77,000 range. The retracement has stayed within a fair-value gap, maintaining a bullish structure on the daily chart.