BroadChain, April 26, 21:06, CryptoQuant analyst Axel Adler pointed out that after the spring market stress release, the selling pressure from short-term holders (STH) has significantly eased. Currently, Bitcoin's price is approaching the cost basis of STH, around $83,000. Whether the market can sustainably hold this level is the core catalyst determining the next price trend.
Only after confirming a breakout and stabilization above $83,000 can the market further verify the actual selling pressure from STH and assess whether this pressure will re-emerge to push prices down.