Bitcoin (BTC) price is facing its “next real test” at $90,000, as traders continue to realize previously unrealized profits.
Profit-taking may limit BTC’s price upside at $90,000, according to CryptoQuant’s expectations. On-chain data signals, including the price reclaiming its 365-day moving average at $80,500, prompted analysts to say that the next bull market cycle has begun.
CryptoQuant CEO Ki Young Ju believes that the tops and bottoms of future cycles will be less extreme thanks to institutional ownership.
Profit-taking means a “natural pause” for BTC price at $90,000
In its latest weekly report released Tuesday, the on-chain data analytics platform CryptoQuant warned that the area around $90,000 could bring increased chances of profit-taking if the price reaches it.
$BTC
Profit-taking may limit BTC’s price upside at $90,000, according to CryptoQuant’s expectations. On-chain data signals, including the price reclaiming its 365-day moving average at $80,500, prompted analysts to say that the next bull market cycle has begun.
CryptoQuant CEO Ki Young Ju believes that the tops and bottoms of future cycles will be less extreme thanks to institutional ownership.
Profit-taking means a “natural pause” for BTC price at $90,000
In its latest weekly report released Tuesday, the on-chain data analytics platform CryptoQuant warned that the area around $90,000 could bring increased chances of profit-taking if the price reaches it.
$BTC
