Bitcoin Nears $80,700 Cost Basis, Market Awaits Next Move

Bitcoin's recent price rally has sent shockwaves through the cryptocurrency market, with many investors wondering what lies ahead for the digital asset. One key metric that could provide insight into this question is the cost basis of short-term holders (STHs), which currently stands at $80,700.

The STH Realized Price is an on-chain metric that tracks the average acquisition level of BTC investors on the network. It has been a significant support/resistance point in the past, with prices often topping out or reversing near this level.

According to data from cycle analyst Root, the STH Realized Price has remained below the current spot price since Q4 2025, when the market experienced a drawdown. Since then, the cost basis of new investors has decreased as coins have been sold at lower prices during this period.