Bitcoin Faces Pressure Below $80,217 STH Cost Basis Amid Rising Losses

News Flash 2026-05-23 22:11

Bitcoin is struggling to reclaim its Short-Term Holder (STH) Realized Price of $80,217, as the cryptocurrency trades at $77,550. This level represents the average acquisition price for newer investors, and trading below it indicates many short-term holders are experiencing unrealized losses, increasing selling pressure. Analyst Axel Adler Jr. reports a net realized loss of $176 million, with $366 million in losses and $190 million in profits among short-term traders. Additionally, Coinbase is experiencing significant selling pressure, with the Coinbase Premium Gap turning negative, indicating weakened demand from US investors. This trend has coincided with Bitcoin's recent price decline, now at $75,514, down 2.56% in the past day. The negative premium suggests increased selling activity, which could either signal a local bottom or continue the current bearish trend.

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