Bitcoin Faces Key Resistance at $92K Amid Bearish Market Sentiment

Bitcoin’s (BTC) recent price movement has raised questions about whether its bull run is losing steam or simply pausing. On-chain analyst Julio Moreno highlights a significant resistance zone forming between $91,000 and $92,000, which aligns with the “Trader’s Realized Price”—the average price current holders paid for their BTC. This level, marked in pink on Moreno’s chart, often serves as a psychological and technical benchmark in market analysis.

According to Moreno, the impact of this level depends on overall market sentiment. When the bull score exceeds 60, indicating bullish sentiment (shown in green), the price typically trades in the so-called “super region,” where corrections are shallow and recoveries are quick. In contrast, a bull score below 40 suggests bearish sentiment (highlighted in red), turning the Trader’s Realized Price into a stubborn resistance level that halts upward momentum.

Currently, Bitcoin’s bull score remains under 60, signaling a bearish trend. If BTC reaches the $91K–$92K range, it is likely to face heavy resistance. Historical data supports this caution—previous bearish phases saw selling pressure increase when BTC approached the pink line, leading to price corrections or extended consolidation.

Further reinforcing the bearish outlook, AetherCapital reports a dense sell wall at $92,000 on Binance’s order book. This cluster of limit sell orders reflects strong profit-taking intent from traders, which could stall further gains unless met by overwhelming buying pressure.

In summary, Bitcoin’s price path appears constrained by technical and psychological resistance at the $92K level. Until bullish sentiment strengthens and breaks through this zone, BTC may struggle to maintain its upward momentum.