Bitcoin (BTC) has been holding steady above the $88,000 mark for the past few days, showing resilience as the broader market anticipates its next move. Price action remains strong, frustrating investors waiting for lower prices as BTC shows no signs of offering an easy entry point anytime soon.




Key data from CryptoQuant shows that long-term holders (LTH) are currently in an active distribution phase, indicating an increase in selling activity from this group. Nevertheless, the market has absorbed the additional supply without a significant impact on the price, highlighting the strong demand supporting BTC at these levels.

As Bitcoin consolidates below its all-time high, traders and analysts are closely watching to see if the current momentum leads to a breakout, or if a retracement is imminent. The balance between growing demand and LTH allocations will likely determine BTC’s near-term trajectory.

Can Bitcoin hit a new ATH this week?

Bitcoin is on the verge of breaking another all-time high (ATH) this week, just 93,483% below the $2 level set last Wednesday. Excitement is growing as analysts and investors closely watch BTC’s price action in anticipation of whether it will surge past this key level or enter a prolonged consolidation phase.

While the bullish momentum remains strong, the possibility of sideways trading may keep the price range-bound for a longer period before the next heavy move.

Data from CryptoQuant analyst Axel Adler highlights that long-term holders (LTH) are currently in an active distribution phase. Nevertheless, the supply increase has not had a significant impact on Bitcoin's price as strong demand continues to absorb selling pressure. This dynamic reflects the market's strong interest in BTC, which supports BTC's approach to all-time highs.





Adler's analysis also points to the LTH Spending Binary Indicator, which shows that spending activity among LTH has peaked. At the same time, the growing LTH supply shows that some long-term holders remain confident in BTC's future price potential. These factors create a unique environment where high demand offsets distribution, maintaining bullish momentum.



As Bitcoin hovers near its ATH, market participants are waiting for confirmation whether the price will head into uncharted territory or pause for consolidation. The outcome could set the tone for BTC’s performance in the coming weeks, with investors betting that this resilient rally will continue to the upside.

BTC Price Action: Key Levels to Hold

Bitcoin is trading at $91,820 after consolidating below its all-time high (ATH) for a few days. Despite the pause, BTC has remained above the $87,000 support level since the last breakout, which shows its importance as a critical line for bulls to defend. Holding this level is crucial to sustain the upward momentum and set the stage for Bitcoin to enter uncharted territory.





However, a break below $87,000 could change sentiment, potentially triggering a pullback as BTC looks for fresh demand. The next logical area of ​​support is found around $80,000, where a deeper pullback could occur if selling pressure intensifies. Such a retracement would provide opportunities for buyers who are holding positions, but could temporarily halt BTC’s gains.

Bitcoin’s price action remains strong, helped by demand that continues to outstrip supply. This strong market interest mitigates the impact of profit-taking and selling activity, maintaining the broader uptrend.





As BTC consolidates near its ATH, traders are keeping a close eye on key levels to determine whether the next move is to break out to new highs or to drop to test lower support areas. Both outcomes could affect Bitcoin’s trajectory in the coming weeks.

$BTC