CryptoQuant analysts have pointed to the level around $90,000 as a potential point of slowdown for Bitcoin's current movement. The main factor is related to the behavior of participants who have recently acquired coins and may start to lock in accumulated profits as prices continue to rise. The average purchase price of Bitcoin for coins that have moved in the last one to three months is estimated at approximately $64,300. Upon reaching $90,300, the yield for this group would be about 40%. Simultaneously, a significant volume of on-chain supply is located in the $88,000–$90,000 range, so the approach of the price to this area may be accompanied by increased seller activity. CryptoQuant considers such a scenario as a possible pause in the upward movement, rather than an independent signal of a change in long-term direction.
At the time of preparing the analysis, Bitcoin was trading around $86,000, leaving a few thousand dollars to the designated zone. Analysts note that a return above the 365-day moving average, located at approximately $80,500, has become one of the signs of the recovery of the long-term market structure. The report also takes into account on-chain indicators, technical parameters, and fundamental factors. MVRV is considered separately: throughout 2026, its value, according to the provided data, did not fall below one. This indicator means that the aggregate market value of the coins remained above their realized value, although MVRV itself does not determine the future direction of the price. Therefore, the market reaction in the $88,000–$90,000 area will depend not only on short-term profit-taking but also on changes in the supply and demand structure.
CryptoQuant CEO Ki Young Ju also linked the change in market behavior to the increased participation of large investors. In his assessment, institutional capital can reduce the amplitude of individual cycle phases: significant inflows may limit sharp movements in one direction, while subsequent liquidity distribution can affect the depth of corrections. As an additional market guide, the report considers data on U.S. spot Bitcoin ETFs. On September 21 and 22, the net inflow into these products, according to the initial data, exceeded $1.7 billion. These figures reflect a high volume of institutional demand during the period under review but do not independently determine the future price dynamics. As a result, the area around $90,000 remains primarily an important level for observing profit-taking, changes in on-chain supply, and the reaction of market participants.