Bitcoin Struggles Below $86,000 Resistance, STHs Face Losses

Bitcoin’s price is currently at a critical juncture, hovering below key resistance levels. The cryptocurrency has seen a slight uptick of 0.3% in the past day, trading below $82,000, which is approximately 24.3% lower than its all-time high of over $109,000 reached in January.

This price performance has highlighted key levels that significantly impact short-term holders (STHs), who are investors holding Bitcoin for less than six months. CryptoQuant analyst Yonsei Dent has identified a critical resistance zone between $86,000 and $90,000, where many sths are currently in a loss position. The ability of Bitcoin to break through these levels will be crucial in determining whether it can regain momentum or continue its downward trend.

Yonsei Dent emphasizes the importance of the Realized Price, which represents the average acquisition cost of Bitcoin holders. This metric helps identify support and resistance zones by showing at what price level investors are likely to break even or sell at a loss. Currently, Bitcoin is struggling to reclaim the $83,000 resistance, as the weighted average Realized Price for 1W–6M STHs stands at $91,800. This indicates that many recent buyers are still holding at a loss, creating selling pressure as they attempt to exit at break-even levels.

Additionally, the 3–6M STH Realized Price sits at $86,100, making it a major resistance zone. Since this group holds the largest share of Realized Cap among short-term holders, their trading activity could significantly impact Bitcoin’s price movements. As Bitcoin trades in the $86,000 to $90,000 range, short-term holders selling at break-even could lead to increased market volatility. If Bitcoin is unable to break past this resistance, it could face renewed downward pressure.

On the downside, Bitcoin’s 6–12M Long-Term Holder (LTH) Realized Price sits at $63,700, with $64,000 being a strong historical support level. If buying demand is strong enough to absorb selling pressure, Bitcoin may break out of this range and establish a more bullish trend. However, if selling from short-term holders intensifies, Bitcoin could retest lower support levels before making any significant recovery. The analyst noted that as Bitcoin navigates the $86,000 to $90,000 range, STHs looking to exit at break-even may increase market turbulence. The key question is whether buying demand will be strong enough to absorb this pressure.