Bitcoin is on the verge of a potential breakout that could push its price above $91,000. Currently trading at $83,336, BTC is moving within a symmetrical triangle, a pattern that often signals a strong price move.
However, short-term holders (STHs) are adjusting their positions, while long-term holders (LTHs) continue to add selling pressure. These factors could influence Bitcoin’s next big move.
Bitcoin Holders Adjust Positions
Short-Term Selling Nears an End
Bitcoin’s Short-Term MVRV (Market Value to Realized Value) has dropped below 0.9, a level historically linked to the end of selling phases. This often signals a potential price reversal, suggesting that Bitcoin could soon see renewed buying interest.
Bitcoin has a history of rebounding when MVRV reaches these levels. If this trend repeats, BTC could gain bullish momentum in the short term.
Long-Term Holders Still Selling
The Long-Term Holder Market Inflation Rate tracks how much BTC long-term holders accumulate or sell compared to new miner supply. At 0.025, LTHs are still contributing to selling pressure.
A drop below 0.008 would indicate that selling is slowing down, easing downward pressure on Bitcoin’s price. Until then, BTC remains vulnerable to market fluctuations driven by LTH activity.
Bitcoin’s Next Move: Breakout or Pullback?
Bitcoin is holding above $82,761, a key support level. The symmetrical triangle pattern suggests a possible 8.8% breakout, which could push BTC toward $91,521.
Key Levels to Watch
- Bullish Scenario: A break above $85,000, followed by support at $87,041, would confirm the breakout and increase the chances of Bitcoin reclaiming its recent losses.
- Bearish Scenario: Failure to clear $85,000 could see BTC drop back to $82,761 or even retest $80,000, delaying any recovery.
Final Thoughts
Bitcoin’s next big move depends on key price levels and holder behavior. If buying pressure returns and BTC breaks resistance, a run toward $91,000+ could be imminent. However, continued LTH selling could stall momentum, leading to short-term volatility.
