Analyst: Bitcoin Short-Term Holders' Pressure Eases, $83,000 Key Level

BlockBeats News, April 24th - CryptoQuant analyst Axel Adler Jr posted that the Short-Term Bitcoin Holders (STH) pressure significantly eased in April. The data shows that the STH discount has narrowed from -21.6% at the beginning of the month to -5.7%. At the same time, the STH-SOPR (7-day) has risen above 1.0, indicating that short-term holders are no longer selling at a loss overall.

Specifically, the Bitcoin price has rebounded to around $78,200, while the short-term holder's cost basis is around $83,000. The current price is still below the cost line, meaning the market has not yet returned to the "premium range." Historically, this cost level has often been a key watershed: when the price reclaims and stabilizes above this level, the market usually enters a more certain uptrend phase. The analysis points out that this round of rebound is more of a structural repair phase rather than a confirmation of a new uptrend. Despite the easing of selling pressure, the STH-SOPR is only slightly above 1, not yet showing strong demand or FOMO sentiment. The current market sentiment is neutral, transitioning early from the pressure zone to the recovery phase.

Overall, the key observation remains whether the price can break through and hold above the $83,000 short-term cost level. Once achieved, this indicator will shift from discount to premium, becoming an important signal for the market to enter a new upward cycle. Conversely, if the price falls again and the STH-SOPR drops below 1, it may indicate that this round of rebound is only a phase of recovery.