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TechFlow News: On April 24, on-chain analyst Axel Adler Jr. (@AxelAdlerJr) observed that the discount for Bitcoin short-term holders (STH) narrowed from -21.6% to -5.7%, and the 7-day moving average of the STH-SOPR has rebounded above 1.0—indicating short-term sellers are no longer clearly in loss territory. However, the current price remains below the $83,000 cost basis, meaning the market has not yet entered a genuine risk-on phase.
According to on-chain analyst Axel Adler Jr. (@AxelAdlerJr), the discount for Bitcoin short-term holders (STH) has narrowed from -21.6% to -5.7%, and the 7-day moving average of the STH-SOPR has rebounded above 1.0, indicating short-term sellers are no longer clearly in loss territory. However, the current price remains below the $83,000 cost basis, meaning the market has not yet entered a genuine risk-on phase.
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