Bitcoin needs to hold above $81,700 to confirm a new bull market, according to CryptoQuant.
Read the full report ⤵️https://t.co/Nrp27VZ4Ap
— CryptoQuant.com (@cryptoquant_com) September 11, 2026
Over the past two weeks, the leading cryptocurrency has gained 24%, but growth has stalled, with prices ranging between $76,000 and $82,000. At the time of publication, the asset is trading around $77,100.
Strong Resistance Ahead
Julio Moreno, head of research at CryptoQuant, identified the $77,100-$80,200 range as the nearest and strongest on-chain resistance zone. In 2026, long-term holders sold an average of up to 539,000 BTC over a 30-day period within this range, he noted.
The next level is the 365-day moving average, which is around $81,700. Moreno pointed out that in previous cycles, a bull market “officially” began after the price closed above this level. If Bitcoin fails to hold above it, it may continue trading within the range.
Further resistance is noted at $83,600 according to the 3x Metcalfe band indicator (an estimate based on network activity). Another potential selling level is around $88,700, corresponding to the upper boundary of the realized price model for traders—a historical profit-taking zone for active participants.
If the market declines, CryptoQuant sees support around $70,000, where the 200-day moving average lies. Another demand zone is identified between $62,000 and $65,000, where long-term holders purchased approximately 476,000 BTC in 2026.
Seeking New Demand
CryptoQuant believes the overall outlook for Bitcoin remains bullish. For a new upward impulse, the market needs to absorb the supply overhang and break through key resistance levels.
An analyst known as Darkfost noted that CryptoQuant’s Bull Score Index has dropped from 80 to 60 points in recent days.
The CryptoQuant Bull Score Index just dropped from a score of 80 to 60 within a few days.
The regime has deteriorated slightly but remains in a bull regime as long as the score stays >60.
BTC needs the overall situation to improve further, particularly on the demand side. pic.twitter.com/DGbJ0kvRDW
— Darkfost (@Darkfost_Coc) September 12, 2026
“The regime has slightly deteriorated but remains bullish as long as the score is above 60 points. BTC needs the overall situation to improve, especially on the demand side,” the expert stated.
According to Plan B, the creator of a Bitcoin model, the asset is currently “squeezed between two giant walls” formed by purchases:
- long-term holders (LTH) — in the $84,000-$87,000 range;
- short-term investors (STH) — around $62,000-$65,000.
$77k bitcoin is squeezed between two giant walls:
🟠 1M BTC sitting at $62–65k
🔵 1M BTC sitting at $84–87kWhich way does it break $65k or $84k?
Live interactive version of this chart 100% free (full history, daily updates, alerts, CSV/XLS/JSON data):https://t.co/2WM9TfT8Mm pic.twitter.com/PT52myeGZb
— PlanB (@100trillionUSD) September 12, 2026
Earlier, Glassnode also noted the formation of an important resistance zone held by LTH coins, identified by the company as the $83,000-$86,000 range.
