CryptoQuant: Bitcoin needs to break $81,700 to confirm new bull market

CryptoQuant research head Julio Moreno stated that Bitcoin faces resistance after a 24% gain over two weeks, currently trading between $76,000 and $82,000. A breakout above the 365-day moving average at $81,700 is required to confirm a new bull cycle; otherwise, the price may remain range-bound. Significant supply resistance exists between $77,100 and $80,200, where long-term holders previously sold up to 539,000 BTC. Key support levels are identified at the 200-day moving average near $70,000 and the $62,000 to $65,000 range.