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

BlockBeats News, April 24th. CryptoQuant analyst Axel Adler Jr posted a message stating that the Short-Term Holders (STH) pressure in April has significantly eased. 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 overall are no longer selling at a loss.

Specifically, the Bitcoin price has risen 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 recovered to the "premium range." Historically, this cost level has often been a key turning point: when the price reclaims and stabilizes above this level, the market typically enters a more certain uptrend. The analysis points out that this rebound is more of a structural repair phase rather than a confirmation of a new uptrend. Although the selling pressure has eased, the STH-SOPR is only slightly above 1, indicating a lack of strong demand or FOMO sentiment. The current market sentiment is neutral, transitioning from a pressure zone to an early 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 a discount to a premium, serving as an important signal for the market to enter a new upward cycle. On the contrary, if the price falls again and the STH-SOPR drops below 1, it could mean that this rebound is only a phase of recovery.