Bitcoin Slips Back Below the $80k Mark -- Market Talk

Dow Jones05-08 23:05

1104 ET - Bitcoin is back to trading below the psychologically-important $80,000 threshold, down 0.2% to $79,714. In a note, analysts with Coinbase Research say bitcoin managed to break just above the short-term holder cost basis, or STH, this week--meaning the average price for BTC among those that have held coins for less than 5 months. The firm sees BTC behavior as signaling that investors trying to exit at a break-even level are getting their chance, and money flow coming in now represents more-optimistic bets. "Traders are likely reducing hedges and leaning more into directionally bullish exposure," says Coinbase. (kirk.maltais@wsj.com)

(END) Dow Jones Newswires

May 08, 2026 11:05 ET (15:05 GMT)

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The firm sees BTC behavior as signaling that investors trying to exit at a break-even level are getting their chance, and money flow coming in now represents more-optimistic bets. \"Traders are likely reducing hedges and leaning more into directionally bullish exposure,\" says Coinbase. 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