"$88.88K was identified as the first major resistance level above the current bitcoin price. Underwater holder cohorts could increase sell pressure as BTC approaches key realized price bands. Sustained acceptance above $88.88K would place the most recent holder cohort back into profit. Cryptoquant, an on-chain and market data analytics firm, shared analysis on X on May 7, outlining the price levels bitcoin may need to reclaim before traders can confirm a market bottom."
"BTC traded near $80,874 while remaining below several realized price bands tied to underwater holder groups. The analysis focused on how those resistance levels could determine whether recent recovery attempts develop into a sustained reversal. The chart in the analysis mapped Bitcoin UTXO age bands against realized price levels for different holder cohorts. It identified the 3-month to 6-month realized price near $88,879 as the first line of overhead supply above spot price."
"Another resistance wall appeared near $93,446 for the 12-month to 18-month cohort. The heaviest concentration came from the 6-month to 12-month band near $111,851, which remained roughly 29% above BTC spot price at the time of the study. The analysis stated: Every one of these levels is a break-even exit point for a different wave of trapped buyers."
"UTXO age bands track bitcoin supply based on how long coins have remained unmoved since their last transaction. The chart separated holder groups into time-based cohorts, allowing the study to identify where different groups of underwater investors may begin selling if BT"
Bitcoin must reclaim and hold $88,880 to allow traders to confirm a market bottom. UTXO age bands map realized price levels for different holder cohorts and identify where trapped buyers may create resistance during recovery attempts. Bitcoin traded near $80,874 while staying below multiple realized price bands linked to underwater groups. The first major overhead supply level sits around the 3-month to 6-month realized price near $88,879. A second resistance area appears near $93,446 for the 12-month to 18-month cohort. The largest concentration is near $111,851 for the 6-month to 12-month band, about 29% above spot at the time. Sustained acceptance above $88.88K would move the most recent cohort back into profit.
Read at news.bitcoin.com
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