Bitcoin's lowest point is not confirmed until this critical level breaks

crypthub

about 8 hours ago

Recent Price Action

Bitcoin has risen almost 20% this month, yet the surge remains vulnerable to a rejection near overhead resistance. CryptoQuant says a sustainable bottom will only be confirmed if BTC reclaims and holds $88,880. Prices hovering around $80,000 still sit below several critical realized price levels. A brief spike above $88,880 followed by a fall would not satisfy the bottom‑formation criteria.

Resistance Zones and Bearish Outlook

CryptoQuant identifies three key resistance zones tied to underwater holder cohorts: $88,880 for 3‑6‑month holders, $93,450 for 12‑18‑month holders, and a larger zone at $111,850 for 6‑12‑month holders. These levels represent break‑even points where investors may sell once prices recover. Analyst Ali Martinez compares the current pattern to the 2022 bear‑market bottom, warning of possible rejection around $80‑82k and a drop toward $55k. He notes strong sell walls at $79k‑$80k that have already forced multiple rejections.

Derivatives Positioning

Derivatives data shows caution, with open interest falling 5.13% in the last 24 hours. Funding rates remain negative but are narrowing, indicating bearish hedging is easing while leverage cools. Market participants are closely watching liquidity absorption around the $80,000 region. Overall positioning stays guarded despite the recent rally.