Bitcoin Breaks Long-Term Trendline, Eyes Next Resistance Zone
Bitcoin has broken through a crucial long-term trendline after closing above it for the first time since March 2023. This development has strengthened its bullish outlook, signaling a potential shift in the cryptocurrency's broader market cycle.
The price of BTC surged to around $85,897, breaking through heavy sell-side resistance that had capped gains since mid-August. It also pushed decisively above the psychological $80,500 level, which analysts at Glassnode and CryptoQuant view as an important threshold for maintaining the emerging uptrend.
On-chain indicators are reinforcing this bullish technical picture. Bitcoin's MVRV ratio has moved above its long-term average and entered a zone historically associated with sustained upward momentum.
CryptoQuant researchers cautioned that historical patterns may not repeat exactly, as Bitcoin's 2026 market cycle is increasingly influenced by capital flows into U.S. spot Bitcoin ETFs and Federal Reserve monetary policy.