CryptoQuant asserts Bitcoin must breach $81,700 to confirm a bullish trend, with current trading around $77,100 amid selling pressures.
CryptoQuant has indicated that Bitcoin needs to break above $81,700 to establish a new bullish market trend.
In the past two weeks, Bitcoin's price has surged by 24%, but it has recently stabilized, fluctuating between $76,000 and $82,000. Currently, it is trading around $77,100.
Resistance Levels Identified
Julio Moreno, CryptoQuant's head of research, highlighted that the immediate on-chain resistance lies between $77,100 and $80,200. He noted that long-term holders sold approximately 539,000 BTC within this price range over the past month.
The next significant resistance level is the 365-day moving average, positioned at $81,700, which has historically marked the beginning of bullish cycles. Should Bitcoin fail to hold above this mark, it may continue to trade within its current range.
Moreno also pointed out further resistance at $83,600, as indicated by the 3x Metcalfe band, and identified $88,700 as another selling point, which aligns with historical profit-taking for traders.
In case of a market downturn, support is expected around $70,000, coinciding with the 200-day moving average, and another demand zone is noted between $62,000 and $65,000, where long-term holders accumulated about 476,000 BTC in 2026.
Market Dynamics and Demand
Overall, CryptoQuant remains optimistic about Bitcoin's prospects, emphasizing the need for the market to absorb existing supply and break through key resistance levels.
Analyst Darkfost mentioned that the CryptoQuant Bull Score Index has recently dropped from 80 to 60, indicating a slight deterioration in market conditions, although it remains bullish as long as it stays above 60.
"The regime has slightly worsened but remains bullish as long as the score stays above 60 points. BTC needs overall improvement, especially on the demand front," Darkfost commented.
Plan B, a model creator for Bitcoin, described the current market situation as "squeezed between two giant walls" formed by buying activity from long-term holders at $84,000 to $87,000 and short-term investors at $62,000 to $65,000.
"$77k bitcoin is squeezed between two giant walls: 1M BTC at $62–65k and 1M BTC at $84–87k. Which way does it break?"
Additionally, Glassnode has identified a significant resistance zone held by long-term holders between $83,000 and $86,000, further complicating Bitcoin's price trajectory.
