The biggest resistance above Bitcoin’s current price is not a round number or a chart pattern; it’s the breakeven point of millions of holders who bought in last year and are still underwater.
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One level controls the story
A CryptoQuant market expert says the “the bottom is in” The crowd anticipates the data. According to the analyst, Bitcoin must recover and hold $88,880 before a bottom call can be considered credible.
Simply touching that level won’t get you there. Price must close above and stay there – otherwise the rally is just noise.
The reasoning focuses on realized price ranges, a measure that tracks the average cost basis of different groups of holders. There are currently three cohorts above The spot price of Bitcoin, meaning they have bought at higher levels and are waiting to get back to par.
“The bottom is in.” Everyone says it
“To confirm the bottom, the price needs to reach and hold 88.88K – no sagging, no retesting and failing. That will get the most recent cohort back into profit and remove the first layer of selling pressure.” – By means of @IT_Tech_PL pic.twitter.com/woRJLa6UTs
— CryptoQuant.com (@cryptoquant_com) May 7, 2026
The first group – holders from three to six months ago – has a realized price of $88,880. Those who held for 12 to 18 months are at $93,400.
The largest and most concerning group, holders from six to 12 months ago, has a cost basis of $111,800 – almost 30% higher than where Bitcoin was trading when the analysis was published.
When Bitcoin climbs back to that level, many of these holders are expected to sell. They are not out to make a profit. They just want out.
Why the low $60,000 calls were low
Earlier this year, Bitcoin fell to around $60,000 in February – a drop of around 52% from its all-time high of $126,200. Since then, the price has risen more than 37% without hitting a new low.
That recovery has fueled the bottom story. With no new lows on the chart, many market watchers concluded that the worst was behind Bitcoin.
The Fear and Greed Index supported the improving mood. Reports indicate that the index has risen from a near-maximum fear value of five in February to 47 – a neutral value indicating that the market has stabilized compared to the previous state of panic.
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Data over sentiment
IT Tech’s sharpest point came at the end of the analysis. The bottom statements, the analyst wrote, are stories. The recovery and retention of $88,880 is data.
At the time of the analysis, Bitcoin was trading almost $80,250. That means the main confirmation level is around $8,000.
Until that gap closes – and remains – the analyst says the market structure still favors caution over confidence.
Featured image of DALL-E, chart from TradingView