Bitcoin Meets Resistance Near $88,000 as Selling Pressure Eases

Bitcoin (BTC) faced resistance near $88,000 as one- to two-year holders sold into the rebound, while selling pressure later eased after the market encountered resistance near that level.

The $88,000 area is also close to the estimated breakeven point for investors who bought Bitcoin six to 12 months ago. That group’s cost basis is approximately $89,000.

The recent selling came from holders who had kept their Bitcoin for one to two years.

Cost-basis levels show where defined groups acquired Bitcoin on average. As Bitcoin approaches those levels, investor behavior may change, but the figures do not establish that holders will sell at breakeven or defend a specific price.

The distribution of investor cost bases above the market remains a constraint on Bitcoin’s upside, including levels near $89,000 and $97,000. The $88,000 level therefore remains a reference point for tracking how the identified holder groups respond during the rebound.