Bitcoin (BTC) has entered a confirmed bull market, according to onchain analytics, but traders may encounter selling pressure as the cryptocurrency approaches $90,000.
Onchain analytics platform CryptoQuant identified $90,000 as the next significant resistance level where profit-taking could intensify. The platform noted that traders who acquired Bitcoin between one and three months ago have an average entry price of $64,300, with the upper profit-taking band sitting at $90,300—about 40% above their realized price. This level coincides with an onchain supply cluster between $88,000 and $90,000.
CryptoQuant described this zone as "a natural pause point within an uptrend, not a reversal," and characterized the price path from current levels near $86,000 to the profit-taking area as "largely clear."
Bull Market Signals
Multiple onchain indicators have prompted analysts to declare the beginning of a new bull market. Bitcoin's price reclaimed its 365-day moving average at $80,500, and the market value to realized value (MVRV) ratio crossed above its 365-day moving average—a technical event that previously signaled the end of the 2018 and 2022 bear markets.
CryptoQuant CEO Ki Young Ju noted that Bitcoin profitability stabilized during the 2026 bear market, with the MVRV ratio never falling below its breakeven point, indicating that investors remained in aggregate profit throughout the downturn—a contrast to previous macro downtrends.
Institutional Influence and Market Dynamics
Ki observed that growing institutional ownership is reshaping Bitcoin's market cycles, creating less extreme price movements than in previous bull and bear markets. "The same forces that limit the upside also soften the downside," he wrote.
Capital inflows to Bitcoin have remained elevated this month. US spot Bitcoin exchange-traded funds recorded net inflows of $1.7 billion during the first two days of the week, with Monday's inflow of $999 million marking the largest single-day total since October 2025.
