Coinbase Traders Face Pressure as Bitcoin’s Short-Term Holder Cost Basis Plunges Below $101K

In a significant market development, Bitcoin's short-term holder (STH) cost basis has dropped below $101,000 for the first time since July 2025, reaching $100,972. This metric, which tracks the average acquisition price of BTC held for 155 days or less, indicates that recent buyers—including many active traders on platforms like Coinbase—are now in a loss position. The decline below this psychological threshold typically signals mounting selling pressure as newer market participants face unrealized losses. Market analysts observe that when the STH cost basis falls, it often precedes increased volatility and potential capitulation events, as those who bought near recent highs may be forced to sell. For Coinbase users and the broader retail trading community, this shift suggests a period of heightened sensitivity, where stop-loss triggers and margin calls could accelerate downward momentum. However, seasoned investors often view such dips in the STH cost basis as potential accumulation opportunities, especially if long-term fundamentals remain strong. The current landscape underscores the importance of risk management for active traders, particularly on major exchanges like Coinbase, where retail sentiment can quickly influence order book dynamics. As the market digests this development, attention will focus on whether Bitcoin can hold key support levels or if further declines in the STH cost basis will trigger a broader wave of profit-taking and portfolio rebalancing.

Bitcoin Short-Term Holder Cost Basis Drops Below $101K for First Time Since July

Bitcoin's short-term holder (STH) cost basis has fallen below $101,000, marking its first dip to this level since July. The metric, which tracks the average acquisition price of BTC held for less than 155 days, now stands at $100,972—signaling recent buyers are underwater.

This development typically precedes increased selling pressure as newer market participants face losses. Analysts note the STH cost basis often acts as a support level during bull markets; its breach suggests potential near-term weakness.

Data anomalies from Coinbase illustrate how exchange-specific factors can distort metrics. The true market picture emerges when accounting for such irregularities—revealing underlying strength despite surface-level bearish signals.

Coinbase Expands into Traditional Finance with Stock Trading, Prediction Markets

Coinbase has launched stock trading and prediction markets for U.S. users, marking a strategic pivot beyond cryptocurrencies. The platform now supports commission-free trading of equities and ETFs via USD or USDC, with plans to introduce tokenized stocks for 24/7 onchain trading.

Prediction markets—powered initially by Kalshi—allow wagering on elections, sports, and economic data. Derivatives access is being simplified, while Solana DEX integration via Jupiter enables instant trading of new tokens. These moves position Coinbase as a hybrid platform bridging crypto and traditional finance.