Bitcoin Faces Elevated Downside Risk: Loss Selling Takes Hold As STH SOPR Falls Below 1

Bitcoin has been under intense selling pressure in recent sessions, leaving market participants increasingly cautious about near-term direction. On Wednesday, BTC briefly surged from the $86,000 area toward $90,000, offering short-term investors a moment of relief after weeks of downside volatility.
That rebound, however, proved short-lived. Price quickly retraced back to the $86,000 level, once again stalling bullish momentum and reinforcing the perception that sellers remain firmly in control.