Bitcoin Analysts Say This Must Happen for a ‘Durable’ BTC Price Recovery
Bitcoin Bitcoin Analysts Say This Must Happen for a ‘Durable’ BTC Price Recovery Bitcoins (BTC) relief rally to $82,000 appears to be cooling off, and analysts say key levels must be reclaimed for BTC price to “confirm a durable continuation higher.” Key takeaways:Bitcoin must break resistance at $85,000-$88,000 to confirm that the bottom is in.Profit-taking on rallies must cool down for a sustained breakout in BTC price. Bitcoin must reclaim $88,000 as support saw it reclaim key levels, including the true market mean at $78,200 and short-term holder (STH) cost basis at $79,100. If the price sustains above these two levels, the 50% drawdown from the $126,000 all-time high to sub-$60,000 levels in February “would rank among the shortest episodes of its kind in Bitcoin market history,” Glassnode in its latest Week Onchain newsletter, adding: “Attention now shifts to the next major resistance at the Active Realized Price near $85.2K, which tracks the cost basis of all non-dormant supply and represents the next structural threshold the market must reckon with.” The last time Bitcoin reclaimed its active realized price, in October 2023, it was followed by a 170% rally to its previous all-time high of $74,000 reached in March 2024. These gains increased to 365% once the price