Bitcoin Needs to Surpass $91,500 Resistance for Bullish Momentum
CryptoQuant contributor Crazzyblockk identified critical Bitcoin (BTC) cost basis zones essential for maintaining bullish momentum. Key points include:
- BTC has risen nearly 3.5% in the past week, trading around $88,759.
- Short-term holders (less than 155 days) have a realized price at $91,500, a significant resistance level.
- New holders (one to three months) show strong support at $83,700.
- A breakout above $91,500 could indicate renewed bullish sentiment, while a drop below $83,700 may suggest potential downside risks.
- On-chain analysis indicates short-term holders are retaining their BTC despite losses.
- Exchange net flow data suggests a possible price rally is on the horizon.
- Bitcoin futures index sentiment shows growing pessimism due to macroeconomic uncertainty.
