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Bitcoin Could Revisit Record High if It Breaks Above $87,000 as Market Reset Nears Completion
Summary
- CryptoQuant said a break above Bitcoin’s 20-month moving average could open the way for a new cycle high, as it has in past market phases.
- Bitcoin’s 20-month moving average stands at $87,165, and CryptoQuant defined the level as a transition boundary and a key price zone where bullish and bearish trends can reverse.
- Large sell orders and major resistance have formed in the $87,000 range, which overlaps with Bitcoin’s opening price for this year of $87,490, making a breakout there a key variable for the market’s next move.
Forecast Trend Report by Period
Bitcoin is attempting to break above its 20-month moving average, a long-term trend line, and a move through that level could extend the advance, according to a market analysis.
Cointelegraph reported on October 16 that on-chain analytics firm CryptoQuant sees Bitcoin meeting resistance near its 20-month simple moving average. In past instances, breaks above that zone were followed by the formation of fresh highs in a new upward cycle.
As of that day, Bitcoin’s 20-month moving average stood at $87,165, according to CryptoQuant. The level also marks the midpoint of the Bollinger Bands, a volatility indicator, and is classified in CryptoQuant’s market-cycle metric as a key price zone where bullish and bearish trends can reverse.
The upper Bollinger Band currently stands at $121,640 and the lower band at $52,694. CryptoQuant defines the area between the lower band and the 20-month moving average as an accumulation zone, while the moving average itself serves as a transition boundary. In December last year, Bitcoin fell below that moving average, amplifying selling pressure.
CryptoQuant contributor GugaOnChain said the market’s reset process has been completed roughly a year after Bitcoin hit its all-time high of $124,709 on October 6, 2025. He added that it is too early to judge the current price range as the top of the current upcycle, arguing that on-chain indicators still point to room for further gains.
That said, major resistance has formed near the 20-month moving average. Bitcoin’s opening price for this year, $87,490, is close to that level, and exchange order books show large sell orders stacked around the same range. As a result, whether Bitcoin can break above the $87,000 area is emerging as a key determinant of its next price move.
CryptoQuant said other on-chain indicators also suggest upside momentum may recover. More recently, another contributor, XWin Research Japan, expressed cautious optimism that Bitcoin’s upward momentum could recover by the end of this month based on three on-chain indicators.
Earlier, CryptoQuant Chief Executive Officer Ki Young Ju said in late August that the bear market had ended based on the firm’s bull-bear market cycle indicator. That gauge rose to 0.186 recently from 0.042 in August, reinforcing the bullish signal. Even so, the analysis said technical indicators such as moving averages and Bollinger Bands alone cannot confirm further gains, making a break above major resistance a key level to watch.
