3 reasons why Bitcoin price can’t take out the $90K resistance level

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Related: Bitcoin price prediction markets bet BTC won't go higher than $138K in 2025New demand for Bitcoin continues to fallGlassnode data also highlighted that the current BTC bull cycle lacks new demand (buyers) entering the market, with the Cost Basis Distribution (CBD) Heatmap showing supply concentration at higher price levels ($100K-$108K) but no significant influx of buyers at lower levels to drive a price recovery.

Glassnode's “The Week On-chain” newsletter noted that the current Bitcoin cycle has witnessed a “top heavy” market where investors who purchased BTC at higher prices hold a significant portion of Bitcoin’s supply.

However, Glassnode analysts said,“The flip side of these observations is that the Long-Term Holder cohort still retains a substantial portion of the network wealth, holding almost 40% of invested value.”Essentially, these periods of prolonged accumulation can eventually constrict the supply and lead to better conditions for a new wave of demand once a stronger uptrend is established in the market.

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Author / Journalist: Cointelegraph by Biraajmaan Tamuly

Category: Crypto

Markets: United States

Topics: Liquidity Market Bitcoin Cost Lower Accumulation Basis Price Bitcoin’s Supply Pressure

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-27 @ 18:19:37 (3 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 602 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27373262

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

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