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Bitcoin (BTC) faces its “next real test” at $90,000 as traders continue to return to unrealized profit.
Key points:
- Bitcoin profit-takers may stall BTC price upside at $90,000, CryptoQuant predicts.
- Onchain signals, including price reclaiming its 365-day moving average at $80,500, led analysts to call the start of the next bull market.
- CryptoQuant CEO Ki Young Ju sees future cycle tops and bottoms as shallower thanks to institutional ownership.
Profit-taking means “natural pause” for BTC price at $90,000
In its latest weekly report issued on Tuesday, onchain analytics platform CryptoQuant warned that the area around $90,000 will bring increased odds of profit-taking should price reach it.
Bitcoin traders’ realized price — the average acquisition price of BTC that last moved onchain between one and three months ago — currently sits at $64,300. CryptoQuant data shows upper and lower bands around this level, signifying profit…
