According to CryptoQuant, Bitcoin must break above $88,880 to confirm a bottom, as on-chain data shows this level represents the cost basis of investors who held for 3 to 6 months. The cryptocurrency analytics firm noted that while Bitcoin is currently trading around $80,870, realized cost prices of three investor cohorts remain above the market price: the 3-6 month holders at $88,880, the 12-18 month holders at $93,450, and the 6-12 month holders at $111,850. CryptoQuant emphasized that short-term rallies alone are insufficient; Bitcoin must strongly defend the $88,880 level after breaking through to confirm a genuine bottom and trigger a major shift in selling pressure.
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