Bitcoin Bulls Face Profit-Taking Risk at $90K

The Bitcoin market is currently facing its next real test at $90,000 as traders continue to return to unrealized profit. According to CryptoQuant, this area may present a risk of profit-taking if price reaches it.

CryptoQuant's data shows that the 'upper band' for profit-taking sits at $90,300, which is 40% above the realized price of $64,300. The upper band coincides with the $88K-$90K on-chain supply cluster, making it the next resistance to clear.

CryptoQuant analysts stated that as price approaches the upper band, trader profit margins stretch and selling can intensify - a natural pause point within an uptrend, not a reversal. The report describes the path between current spot price at $86,000 and the profit-taking zone as 'largely clear' while seeing no return to bear-market conditions.

The bull market is confirmed by technicals, valuation, and on-chain data pointing up, according to CryptoQuant. CEO Ki Young Ju previously asserted that future Bitcoin price cycles will become less extreme due to a shift from retail to institutional ownership.