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Bitcoin bull market seen as confirmed, with $90K profit-taking risk ahead

CryptoQuant says Bitcoin faces a profit-taking zone around $88,000 to $90,000, where trader selling could intensify before the next move higher.

Reported · Written up by our desk · Market Structure

Cointelegraph reports that onchain analytics platform CryptoQuant has said Bitcoin’s bull market is now “confirmed,” while flagging a key hurdle near $90,000 as traders return to unrealized profit.

In CryptoQuant’s latest weekly report, the firm points to Bitcoin’s realized price, which is currently about $64,300 based on on-chain activity from one to three months ago, with upper and lower bands defining profit and loss margins for that supply cohort.

CryptoQuant’s data places the upper profit-taking band around $90,300, about 40% above the realized price, and says this level lines up with an $88,000 to $90,000 on-chain supply cluster that could act as the next resistance traders need to clear.

The report also characterizes the path from spot around $86,000 into the profit-taking zone as “largely clear,” adding there is no sign of a return to bear-market conditions. Cointelegraph adds that CryptoQuant CEO Ki Young Ju argued that growing institutional ownership is dampening past extremes in Bitcoin price cycles.

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