Bitcoin must reclaim $88.88K to confirm bottom

CryptoQuant, an on-chain analytics firm, posted an analysis on X on May 7 saying Bitcoin must reclaim and hold $88,880 to confirm a market bottom.

At the time of the post, Bitcoin traded near $80,874 and was below several realized price bands tied to groups of holders who bought at higher prices.

UTXO age bands divide Bitcoin supply by how long coins have remained unmoved since their last transaction. Realized price is the average acquisition cost for coins in an age band; when market price reaches those levels, holders who bought at the band average may be inclined to sell to break even.

The chart in the analysis identified the 3-month to 6-month realized price near $88,879 as the first overhead supply above spot. The 12-month to 18-month band sat near $93,446, and the largest concentration of overhead supply appeared in the 6-month to 12-month band near $111,851, roughly 29% above the spot price cited.

The report included the comment: “Every one of these levels is a break-even exit point for a different wave of trapped buyers.”

According to the analysis, sustained acceptance above $88,880 would put the newest underwater cohort back into profit and could reduce immediate selling pressure from investors aiming to exit at break-even.

The firm added: “For the bottom to be confirmed, price needs to clear $88.88K and hold – not wick through, not retest and fail.”

At the time of the post, Bitcoin remained below all three realized price bands highlighted by CryptoQuant. The firm described acceptance above $88,880 as the first data-driven signal that market structure may move away from distribution pressure and toward broader holder profitability.