Bitcoin consolidation deepens as Coinbase Premium turns positive and US demand shows signs of revival

Bitcoin’s Net Realized Profit/Loss slumped to around -$330 million on 06 February as its price briefly tested the $63,000–$65,000 band, before stabilizing toward $68,000–$70,000. On-chain data indicates heavy BTC accumulation between $60,000 and $70,000, while the Coinbase Premium Gap flipped to +14.7% on 27 February after months of negative readings, hinting at a potential return of US-led demand.