Bitcoin’s Next Big Move Hinges on $88,800

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Staying under the Active Realized Price means discomfort and possible increased selling, which makes $88,800 a crucial level for Bitcoin's next direction.

After a mid-week relief, Bitcoin (BTC) is trading a little above $87,000, but it still stands below a key level that could determine its next move.

A new observation suggests that a failure to rise above $88,800 could trigger more profit-taking, as active investors remain at a loss and market pressure builds.

Bitcoin Battles the $88.8K Line

Bitcoin’s position below the Active Realized Price, currently around $88,800, has become a crucial focal point, according to Alphractal Founder and CEO Joao Wedson. The Active Realized Price is indicative of the average cost basis of active investors, excluding lost, dormant, or untouched coins, and therefore represents what the most engaged participants actually paid for their BTC.

When Bitcoin trades above this level, the environment generally stabilizes as most active investors sit in profit, which ends up easing the selling pressure, and the market tends to find a firmer footing. However, with BTC still below this threshold, sentiment shifts. Wedson explained that this setup can make investors uneasy, and historically, such conditions encourage increased short-term selling, particularly if the price struggles to reclaim that level promptly.

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