#Gate广场五月交易分享 Short-term selling pressure cleared, market structure healthier

CryptoQuant's latest analysis shows positive signals: short-term holders' loss pressure has decreased to 0% for the fifth consecutive day, a significant drop from 22% at the end of March, indicating that as Bitcoin reclaims above $80k, those deeply underwater short-term holders from April have fully unwound their positions and are no longer facing passive selling pressure.
More importantly, the proportion of short-term holders has fallen to 22.2%, hitting a 90-day low, which means the "hot capital" (short-term speculative funds) in the market has significantly decreased, speculative sentiment has cooled, and the proportion of long-term holders has increased, making the market structure more healthy. CryptoQuant specifically reminds that the current key support level to watch is $78,000-$79,000 — this is an important defensive line for the bulls. If this range can be maintained, the market is likely to continue its oscillation and stabilization; once broken, it may trigger a new round of correction, with support near $77,000.
Considering recent movements, Bitcoin's 24-hour low touched $79,843.59, just one step away from this support zone, and the effectiveness of this support level will be crucial for subsequent trends.