Analysis: Bitcoin needs to break through the $84k resistance level to continue its upward trend, with the next target price at $92k.

Mars Finance reports that short-term holder (STH) on-chain metrics such as cost basis indicate that BTC price can still rise, with the next key target at $92,000. This rebound has pushed Bitcoin above its short-term holder cost basis—currently at $79,000. The short-term holder cost basis refers to the average purchase price of investors holding Bitcoin for less than 155 days. Historically, breaking through this level has pushed the market into an extended recovery phase—encouraging investors to hold or even add to their positions to maximize returns. This shift often acts as a catalyst for a macro upward trend, attracting new buyers and triggering short covering, while short sellers remain in a “disbelieving” state. Charts show that when the price recovers its realized price in April 2025, it tends to rise 30% within four weeks, reaching the upper boundary of this indicator at $112,000. Similar situations in October 2024, October 2023, and January 2023 also pushed BTC prices up to the same on-chain levels. If BTC breaks through this line, there is a high probability it will short-term rise to $92,423, about 13% above the current price. Analyst Mitchell Askew said, “Bitcoin has broken through the key short-term holder breakout point. This usually signals the end of bear markets and consolidation periods.” Bitcoin analyst Plan C stated that if the price “can find sustained support above this level,” it would confirm that the 50% retracement from the $126,000 all-time high is just a “mid-cycle correction.” However, the continuation of Bitcoin’s rebound currently depends on breaking through the supply zone between $82,000 and $84,000. MN Capital founder Michael van de Poppe marked $84,000 to $86,000 as the “next resistance zone,” and if broken, Bitcoin could “continue to rise toward the 50-week moving average near $90,000.” Meanwhile, Bitcoin whale order books show “concentrated large sell orders” between $82,000 and $84,000, making this range a critical level for bulls to break through.