🔍 Bitcoin has not yet reached a local minimum: the price still needs to break through several resistance zones with a high concentration of losing positions. This conclusion was made by a CryptoQuant contributor under the nickname IT Tech.

The analyst highlighted three groups of long-term holders who bought cryptocurrency near local highs:

✔️ investors with a 3–6 month horizon: average entry price — $88,888;
✔️ 12–18 months: $93,450;
✔️ 6–12 months: $111,850.

These levels act as barriers to growth. When the price approaches the entry point, market participants aim to break even, creating selling pressure.

IT Tech's key level is called $88,880. Holding above it will return recent buyers to profit and reduce market pressure.

As long as Bitcoin trades below this level, the analyst considers any rise within the $85,000–88,000 range as a temporary rebound. In his view, discussions about reaching the bottom remain a theory — the data does not confirm it.