Bitcoin Breaks Long-Term Trendline as BTC Targets $90K

Bitcoin has strengthened its bullish outlook after closing above a crucial long-term technical indicator for the first time since March 2023, signaling a potential shift in the cryptocurrency’s broader market cycle.

Bitcoin surged to around $85,897, breaking through heavy sell-side resistance that had capped gains since mid-August. The rally also pushed BTC decisively above the psychological $80,500 level, which analysts at Glassnode and CryptoQuant view as an important threshold for maintaining the emerging uptrend.

On-chain indicators are reinforcing the bullish technical picture. Bitcoin’s MVRV ratio has moved above its long-term average and entered a zone historically associated with sustained upward momentum. Similar MVRV patterns appeared during the early stages of major Bitcoin market cycles in 2019 and 2023, when the cryptocurrency emerged from extended periods of capital accumulation.

MVRV compares Bitcoin’s market value with the aggregate cost basis of investors. A rising reading suggests that average holder profitability is improving as BTC prices climb.

Meanwhile, Bitcoin’s SOPR indicator suggests that profit-taking is being absorbed by strong spot-market demand. Sellers appear increasingly reluctant to unload BTC at lower prices, while large investors and exchange traders have begun moving in the same direction, helping Bitcoin break the broader downtrend that previously pressured the market.

However, CryptoQuant researchers cautioned against assuming that historical patterns will repeat exactly. Bitcoin’s 2026 market cycle is increasingly influenced by capital flows into U.S. spot Bitcoin ETFs and Federal Reserve monetary policy, making macroeconomic conditions particularly important for the next phase of the rally.

For Bitcoin bulls, holding $80,500 as support is now a key technical objective. Successfully defending that level could strengthen the case for another move toward the $88,000 to $90,000 resistance zone.

A sustained breakout above $90,000 would mark another major technical milestone and, based on historical on-chain models, could increase the possibility of Bitcoin challenging new all-time highs.