Alright, crypto fam, listen up! Julio Moreno, the sharpest mind over at CryptoQuant, is dropping some serious knowledge. He’s flagged a potential resistance zone for Bitcoin right around the $91,000 to $92,000 mark. And it’s not just a random number he pulled out of thin air – it’s a key area where on-chain realized price intersects with trading activity.
This isn’t some fluffy technical analysis, folks. This realized price? It’s a big deal. Historically, during bull runs, this level acts like a rock-solid floor, bolstering the price. But in a bear market… well, that floor becomes a ceiling. And Moreno believes we’re still wrestling with bear market vibes.
Let’s break down ‘realized price’ for the uninitiated. It’s essentially the average price all bitcoins were last moved at. Think of it as the collective cost basis for holders. It’s a powerful indicator of market sentiment and potential price movements.
During bull markets, as more coins are spent (realized), the realized price rises, creating a strong support level. Conversely, in a bear market, reluctance to spend pushes it higher, becoming resistance.
So, what does this mean for us? It means we might see some serious struggle around $91k-$92k. Don’t expect a smooth ride through that territory, and maybe… just maybe… brace for another shakeout if we can’t break through. Don’t say I didn’t warn you!
