Bitcoin’s price has managed to stay above the short-term holder (STH) realized price, currently hovering around $66,000, as selling pressure diminishes in the market. This comes after a tumultuous week that saw the leading cryptocurrency grappling with volatility, a scenario that has become increasingly familiar since the bear market commenced in October 2025. Since reaching its all-time high, Bitcoin has experienced a staggering 52% decline, raising concerns among investors about the sustainability of its current price levels.
However, recent on-chain analytics from CryptoZeno indicate that there may be some encouraging signs for Bitcoin’s price recovery. The STH realized price, a crucial psychological threshold, remains intact, suggesting that many short-term investors are still in profit despite the market’s corrections. This stability hints at a decrease in immediate selling pressure, potentially paving the way for a more sustained price recovery.
In addition, the 7-day Spent Output Profit Ratio (SOPR) is currently around 1, a figure that implies coins are being sold at a profit. Yet, a sustained SOPR above this level during consolidation phases typically signals moderate profit-taking rather than a widespread sell-off. This trend, coupled with a notable net outflow from exchanges over the past week, indicates accumulation efforts among long-term investors. Such behavior echoes patterns seen in previous bullish phases, where consistent withdrawals suggest confidence in future price increases.
Since dipping to a local low of $60,000 in early February, Bitcoin has shown resilience, with prices rising to around $76,000 and stabilizing near $65,000. The combination of these metrics paints a picture of a market with solid structural support and healthy profit realization. However, analysts at CryptoZeno caution that the recent slowdown in price momentum, along with declines in the STH realized price, could put Bitcoin at risk. A failure to maintain its current support level might trigger a wave of selling, potentially leading to a short-term downturn or a shift in market sentiment.
At the time of writing, Bitcoin is trading at $66,748, reflecting a slight 1.04% increase in the last 24 hours. Nonetheless, a significant drop in daily trading volume by over 53% raises questions about the strength of this price movement and the level of market participation. As the crypto landscape evolves, investors remain watchful for signs that could indicate Bitcoin’s next move.