Bitcoin soared to $82,240 early in Asian markets, marking its highest price in recent months and triggering a wave of renewed optimism among investors. Analysts credit the rally to short-term holders’ cost averages being exceeded, with technical data now pointing to $92,000 as the next critical level for BTC.
The influence of short-term investors
The recovery in the world’s largest cryptocurrency has been largely driven by investors who have held Bitcoin for a relatively short period. According to Glassnode, the short-term cost basis—representing the average purchase price for these holders—currently stands at $79,000. Historically, when Bitcoin moves above this threshold, it often triggers sustained uptrends, as investors shift from considering exits to adding to their positions now that they are back in profit.
Climbing above this key cost level has sparked new buying interest and forced short sellers to quickly close out their positions. Notably, the profit and loss indicator for “Short-Term Holders” (those holding BTC for less than 155 days) has turned positive, signaling that recent buyers might help ease broader selling pressure in the market.
BitBull, a Bitcoin analyst, highlighted a market shift: “This level is back above 1, showing that recent buyers are now in profit and that selling pressure has weakened.”
Indicators and key resistance zones
BTC/USD has rallied an impressive 37% year-to-date, climbing from $60,000 to above $82,000. TradingView data reveals that in a similar rebound in April 2025, the price surged 30% in just one month, closely approaching $112,000. Analysts also point out that BTC’s past surges in October 2024, October 2023, and January 2023 followed similar on-chain thresholds being surpassed.
Experts say the next major resistance sits around $84,000. If Bitcoin breaks through and consolidates above this level, the door could open for moves toward $90,000 and potentially a quick test of $92,423. Data from CryptoAppsy confirms that Bitcoin is trading near $82,240 at the time of writing.
Another key piece of technical evidence supporting Bitcoin’s strength is that it closed the week above both its 20-week moving average and the “real market average” at $78,300. Such closes historically improve the odds for further upside from current levels.
Major investors and the next price target
Analysts stress that breaking through the $82,000–$84,000 supply zone is crucial for further gains. The 200-day exponential moving average at $82,600 and the 200-day simple moving average at $83,402 represent the most critical short-term technical thresholds. Michael van de Poppe, founder of MN Capital, identified the $84,000–$86,000 range as the next resistance area, suggesting that surpassing it could pave the way for targets near the 50-week moving average at $90,000.
Whale order books show heavy sell orders clustered between $82,000 and $84,000. Market specialists believe that if BTC can break above these levels, it may quickly move toward $92,000.
Meanwhile, certain technical indicators suggest Bitcoin may have already printed its long-term bottom, with ambitious price targets set as high as $250,000 within the next year.
The analyst known as Plan C argued that if BTC finds stable support above current levels, the 50% correction from the all-time high at $126,000 should be viewed as an intra-cycle pullback rather than a wider trend reversal.
