An analysis shared by Cryptoquant indicates bitcoin must reclaim and hold $88,880 before traders can confirm a $BTCbottom. UTXO age bands identified several realized price levels where trapped buyers could add resistance during recovery attempts.

Key Takeaways:

• $88.88K was identified as the first major resistance level above the current bitcoin price.
• Underwater holder cohorts could increase sell pressure as $BTCapproaches key realized price bands.
• Sustained acceptance above $88.88K would place the most recent holder cohort back into profit.

Bitcoin UTXO Age Bands Show What Could Confirm a $BTCBottom

Cryptoquant, an on-chain and market data analytics firm, shared analysis on X on May 7, outlining the price levels bitcoin may need to reclaim before traders can confirm a market bottom. $BTCtraded near $80,874 while remaining below several realized price bands tied to underwater holder groups. The analysis focused on how those resistance levels could determine whether recent recovery attempts develop into a sustained reversal.

The chart in the analysis mapped Bitcoin UTXO age bands against realized price levels for different holder cohorts. It identified the 3-month to 6-month realized price near $88,879 as the first line of overhead supply above spot price. Another resistance wall appeared near $93,446 for the 12-month to 18-month cohort. The heaviest concentration came from the 6-month to 12-month band near $111,851, which remained roughly 29% above $BTCspot price at the time of the study. The analysis stated:

“Every one of these levels is a break-even exit point for a different wave of trapped buyers.”

UTXO age bands track bitcoin supply based on how long coins have remained unmoved since their last transaction. The chart separated holder groups into time-based cohorts, allowing the study to identify where different groups of underwater investors may begin selling if $BTCapproaches their average acquisition prices.

$BTCReclaim Above $88.88K Could Shift Holder Positioning

Realized price reflects the average acquisition cost for holders within each age band. The analysis said a move above $88,880 would place the newest underwater cohort back into profit, potentially reducing immediate sell pressure from investors attempting to exit at break-even.

Additional resistance remains above the first level. The study described the $93,447 region as another concentration of trapped buyers, while the $111,851 band represents the heaviest overhead supply zone currently above $BTCprice. The analysis added:

“For the bottom to be confirmed, price needs to clear $88.88K and hold – not wick through, not retest and fail.”

$BTCremains below all three realized price bands highlighted in the report. The study framed sustained acceptance above $88,880 as the first>

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