Analysts point out that BTC's STH-RP and TMMP have entangled for nearly 20 days before forming a death cross, and historical patterns usually suppress the price and may create new lows. Currently, the STH-RP red line is approaching a straight line, with short-term activity dropping to a freezing point, and the chips are unwilling to change hands at both ends of the moving average line. Selling pressure is not strong, and resistance may be easier to break through. The difference is that the slope is close to flat, and selling pressure is not obvious. STH-RP still serves as an emotional dividing line, with the price below it leaning bearish, and the subsequent trend needs time to verify.

MeNews

2026-05-27 03:23:56

Abstract generation in progress

ME News Report, May 27 (UTC+8), analyst Murphy pointed out that after nearly 20 days of entanglement between BTC short-term holders' realized price (STH-RP) and the TMMP indicator, a "death cross" pattern has essentially formed, meaning the red line has officially crossed below the green line. Historically, once a death cross forms, BTC price is often suppressed by the STH-RP red line for an extended period and struggles to break through, potentially even hitting new lows. Currently, the STH-RP red line is almost a straight line, indicating that market short-term activity has dropped to a freezing point, with chips at both ends of this average cost line unwilling to participate in turnover, consistent with previous judgments about a sharp decline in trading enthusiasm. However, unlike previous cycles, the slope of the STH-RP crossing downward this time is nearly zero. The steeper the slope, the stronger the panic selling of high-position chips, making it harder for prices to break through resistance; whereas the nearly flat trend now suggests that selling pressure is not strong, and upward resistance may not be as difficult to overcome as in historical cases. Nevertheless, the STH-RP remains a dividing line for sentiment bullishness or bearishness; if the price operates below it, it indicates a short-term bearish bias, and the subsequent direction still needs to be verified over time. (Source: BlockBeats)

BTC-1.11%

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Wax-SealedPrivateKey

· 6h ago

A death cross is a death cross, but a death cross without volume is just a paper tiger.

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FeeswitchWhisperer

· 6h ago

When the death cross appears, the bears rejoice, but the slope is too flat; this time it might be a fakeout.

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TheFeelingOfEthInTheSeaBreeze

· 6h ago

Let's wait for the verification; right now, both bulls and bears are guessing, data will tell.

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MoonlightLiquidationLine

· 6h ago

Chips are stuck at both ends, the main players are waiting for retail investors to move first, it's an old script.

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PerpWhisperer

· 6h ago

The lack of obvious selling pressure is the biggest suspense; breaking through resistance could happen faster than expected.

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GateUser-4d2d061e

· 6h ago

Short-term activity freezing point, on-chain data is more honest than price

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GateUser-9008328f

· 6h ago

This analysis is spot-on; the key issue is the abnormal slope, and we can't force it using the old model.

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CraterLiquidity

· 6h ago

The STH-RP is slightly bearish below, but moving sideways means there's not much room below either.

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RugpullTaster

· 6h ago

After 20 days of entanglement leading to a death cross, the time window is long enough; it's time to choose a direction.

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NotYourExitLP

· 6h ago

The red line becomes straight, the emotional boundary turns into an ECG flatline—interesting.

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Analysis: The short-term holder cost basis of BTC has formed a death cross, reducing the willingness to change hands, and market enthusiasm has plummeted.

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