CryptoQuant Analyst: Bitcoin Forms Strong Selling Pressure Zone at $82,000, Short-Term Holders Exit at Highs

On May 17th, CryptoQuant analyst Axel Adler stated that Bitcoin has recently tested the $82,000 level three times but has retreated each time. Data shows that during each rebound, the STH-SOPR metric rose near 1.0 before weakening again, indicating that short-term holders are taking profits during rallies rather than holding on. Axel Adler pointed out that $82,000 is not only a key technical resistance level but also a significant selling pressure zone based on market behavior. Currently, this level coincides with Bitcoin's 200-day moving average (200D SMA). Until the STH-SOPR SMA(7) remains above 1.0 for several consecutive days and BTC effectively breaks through the 200-day moving average on the daily chart, market rebounds may still be viewed as selling opportunities. On a macroeconomic level, escalating tensions in the Middle East continue to suppress market risk appetite. Influenced by the conflict in Iran, rising oil prices, and expectations of "higher interest rates for longer," US stocks closed lower on Friday, WTI crude oil futures rose over 4%, and the 10-year US Treasury yield climbed to approximately 4.6%, reaching a new high for the year.