Crypto
Bitcoin Dips Below Short-Term Holder Cost Basis
CryptoQuant analyst Axel Adler Jr. has highlighted an interesting dynamic in the Bitcoin market. As of August 8, 2026, Bitcoin is trading at $64,952, below the short-term holder (STH) cost basis.
The STH realized price stands at $67,523, and the spot price is 3.8% below this level, with a gap of $2,571, the narrowest since July 21.
According to Adler Jr., over the past 284 days, Bitcoin has closed below the STH realized price on 279 days.
This time may be no exception, as short-term holders are likely to begin selling into the market to exit at the breakeven point.