Bitcoin Bull Market Confirmed, but $90K May Trigger Profit-Taking

Published: 2026-09-23 10:45:01 |

Bitcoin bull market signals have strengthened, but Bitcoin price may face significant resistance near $90,000, according to CryptoQuant. The firm said traders who bought BTC one to three months ago have an average realized price of about $64,300. Its profit-taking upper band is near $90,300, aligning with an on-chain supply cluster between $88,000 and $90,000. CryptoQuant expects selling pressure to increase in this zone, potentially creating a temporary pause rather than ending the uptrend. The Bitcoin bull market case is supported by several indicators. BTC has reclaimed its 365-day moving average near $80,500, while the MVRV ratio has moved above its own 365-day moving average. CryptoQuant CEO Ki Young Ju said MVRV remained above its breakeven level of 1 during the 2026 bear market, suggesting that investors stayed profitable in aggregate. Ki also argued that rising institutional ownership is making Bitcoin market cycles less extreme. Institutional participation could limit both future rallies and market declines. Spot Bitcoin ETFs recorded $1.7 billion in net inflows during the first two days of the week, including $999 million on Monday, the strongest single-day inflow since October 2025. For traders, the path toward $90,000 appears relatively clear, but the resistance zone could produce consolidation or short-term volatility. A sustained breakout above $90,000 would strengthen bullish momentum, while rejection could lead to profit-taking around current support near $86,000.

Bullish

The outlook is bullish because multiple independent indicators point to continued Bitcoin market strength. BTC has reclaimed its 365-day moving average, MVRV has crossed above its long-term average, and spot Bitcoin ETFs attracted $1.7 billion in net inflows in two days. These signals suggest renewed capital demand and improving investor profitability. The main short-term risk is resistance near $88,000-$90,000. Historical Bitcoin rallies often encounter temporary selling when a large holder cohort reaches substantial unrealized gains. A rejection in this area could produce consolidation, a pullback toward approximately $86,000, or increased intraday volatility. However, CryptoQuant characterises this risk as a natural pause within an uptrend rather than evidence of a new bear market. In the longer term, institutional ownership may make market cycles less extreme than those seen in 2018 and 2022. That could reduce the probability of a rapid blow-off rally, but it may also lower the risk of a severe capitulation. Traders should monitor ETF flows, the $90,000 breakout level, realized-price bands and MVRV momentum. Sustained ETF inflows and a confirmed close above $90,000 would strengthen the bullish case. Persistent rejection and weakening flows would increase the risk of a deeper correction.