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$BTC STH have been realizing losses for about nine months now, a dynamic typical of a bear market.
With an estimated cost basis of around $68,800, STH remain under pressure for now.
Today, they’re estimated to be realizing around 4% losses as Bitcoin tries to hold above $65,000.
This is a key level that BTC should be able to reclaim to bring a bit more optimism and confidence in the short term, and the market badly needs it.