Bitcoin's short-term holder pressure has significantly eased in April, according to CryptoQuant analyst Axel Adler Jr. The short-term holder (STH) discount narrowed from -21.6% to -5.7%, and the STH-SOPR (7-day) rebounded above 1.0, indicating that short-term holders are no longer selling at a loss. Bitcoin's price has risen to approximately $78,200, but remains below the $83,000 cost basis for short-term holders, a critical threshold for market recovery. Historically, surpassing the $83,000 level has marked the beginning of a more definitive upward market phase. While selling pressure has eased, the STH-SOPR's slight rise above 1 suggests a lack of strong demand or FOMO sentiment. The market sentiment is currently neutral, transitioning from a pressured zone to a recovery phase. The key focus remains on whether Bitcoin can break and sustain above the $83,000 level, which could signal a new upward cycle, or if it will fall back, indicating a temporary recovery.