Bitcoin Price Remains Above STH Realized Price as Selling Pressure Eases

Bitcoin continues to hover around the $66,000 mark after experiencing a corrective phase in the previous trading week. The leading cryptocurrency is still under a bear market, which began in October 2025, leading to a 52% drop from its all-time high thus far. Nevertheless, recent data from the blockchain suggests some positive signs that could lead to a price recovery.

Key Takeaways

Bitcoin is trading in the $66,000 range after recent corrections but remains under a bear market that started in October 2025.
Current data shows that many short-term holders are still profitable, contributing to reduced immediate selling pressure.
The Spent Output Profit Ratio (SOPR) is around 1, indicating reluctance among investors to sell at losses.
Outflows from exchanges suggest accumulation by long-term investors, similar to bullish phases in the past.
Bitcoin's price is currently $66,748, with a dramatic drop in trading volume indicating a weakening market sentiment.

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Bitcoin's Market Structure: Resilient Despite Market Volatility

According to the latest report from the analytics platform CryptoZeno, Bitcoin maintains a healthy market structure despite significant volatility. This assessment is supported by several key data points, particularly focusing on the short-term holder (STH) realized price. Currently, Bitcoin's price remains above this crucial psychological level, indicating that many investors in this category are still profitable, even after recent price declines.

This situation hints at a reduction in immediate selling pressure, which could help stabilize the market for a long-term recovery. Additionally, the 7-day Spent Output Profit Ratio (SOPR) is hovering around 1, further suggesting that investors are less inclined to sell their assets. A SOPR of 1 indicates that coins are being sold at a profit; however, a prolonged SOPR above 1 during periods of consolidation often signals moderate profit-taking rather than widespread selling.

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Source: CryptoQuant

Another significant data point is the 30-day exchange net flow, which has shown a steady outflow over the past week. Consistent withdrawals from exchanges typically coincide with accumulation efforts by long-term investors. CryptoZeno compares the current outflow levels to those seen during the bullish phases early to mid in previous cycles.

Since reaching a local low of $60,000 in early February, Bitcoin has been undergoing a consolidation phase, with highs around $76,000 and retracing to lows near $65,000. The macro view provided by the three metrics outlined above indicates that the market retains support, exhibits healthy profit-taking, and demonstrates a lowered supply, suggesting Bitcoin's stability during this consolidation phase.

However, analysts at CryptoZeno caution that the recent decline in price momentum, along with a falling STH realized price, places Bitcoin in a vulnerable position. Should it fail to hold onto this support level, it could lead to additional selling pressure, resulting in a short-term price drop or shift in investor sentiment.

Current Bitcoin Price Overview

As of now, Bitcoin is priced at $66,748, representing a modest increase of 1.04% in the last 24 hours. However, daily trading volume has decreased significantly by 53.48%, indicating weaker market participation and a lack of strong confidence in the recent price movements.

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BTC trading at $66,661 on the daily chart | Source: BTCUSDT chart on Tradingview.com