CryptoQuant analyst: BTC holding above $83,000 is key to market recovery

ChainCatcher reports that CryptoQuant analyst Axel Adler stated that, following the release of spring market pressures, the selling pressure from short-term holders (STH) has noticeably eased. The Bitcoin market recovery is still ongoing, with the current price approaching the short-term holder cost line. The key trigger for the subsequent trend lies in whether Bitcoin can effectively remain above the short-term holder cost basis of around $83,000. Only by breaking through and stabilizing above this level can the market further assess the actual selling pressure strength from short-term holders, as well as determine whether it may push the price back down again.