STHs have now been in profit on average for almost 2 months. With an estimated cost basis of $76 500, their average profit on bitcoin:native currently stands at 5.5%. 
That's quite small compared to barely a month ago, when their unrealized profits had climbed to 20% on average. The last time they held that much profit was shortly before the October 2025 top. So it was no surprise to see the market consolidate for a while as STHs realized profits. Still, the profits are still there, and their cost basis remains an interesting support level where STHs could step in to defend their average entry price.