Bitcoin bull market ‘confirmed’ but $90K presents profit-taking risk: Analysis
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Bitcoin’s price faces a potential resistance zone around $90,000, where profit-taking by traders may cause a temporary stall, according to onchain analytics platform CryptoQuant. Analysts identify recovery above the 365-day moving average at $80,500 as confirmation of a new bull market cycle. CryptoQuant CEO Ki Young Ju suggests that rising institutional ownership will lead to less volatile future price cycles.
Why it matters
The resistance at $90,000 is seen as a “natural pause” rather than a reversal, indicating possible short-term market dynamics during the ongoing bull run. This development reflects a shift in Bitcoin market behavior dominated more by institutional holders, which could result in more tempered price swings compared to previous cycles. The confirmation of a bull market and increasing capital inflows such as recent record Bitcoin ETF investments enhance optimism about market growth.
Key context
CryptoQuant measures profit-taking risk using Bitcoin’s realized price, currently $64,300, and associated upper and lower bands that frame trader profit margins. Historically, price approaches near the upper band—around $90,300—trigger increased selling pressure. The MVRV ratio crossing above its 365-day moving average has historically signaled the end of bear markets, supporting the case for a confirmed bull market. Data from Farside Investors highlights significant recent inflows into US spot Bitcoin ETFs.
Key numbers and entities
Bitcoin’s key price levels cited are $80,500 (365-day moving average) and $90,000 (profit-taking resistance zone). The realized price is stated as $64,300, with the profit-taking upper band at $90,300. Bitcoin ETF net inflows were reported at $1.7 billion over two days, including a single-day record of $999 million. CryptoQuant and its CEO Ki Young Ju are the main sources of analysis, alongside data from Farside Investors.
What remains unclear
The source does not specify how long any profit-taking pause near $90,000 might last or whether this resistance zone will ultimately be overcome soon. It also does not detail specific institutional entities contributing to the reduced volatility or how retail participation has changed quantitatively. Furthermore, the analysis does not provide projections beyond noting general cycle behavior changes.