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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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