Bitcoin’s $89,000 Test Looms as Selling Pressure Mounts—Here’s the Next Move for the BTC Rally

Bitcoin bulls are bracing for a gut check. The king of crypto faces a critical resistance wall at $89,000, a level that could make or break the current uptrend as sell-side pressure builds in the market.

The Liquidity Hunt

Every major rally needs fuel—liquidity. Analysts point to that $89,000 zone as a key magnet, a price point where a massive cluster of resting sell orders sits. Breaking through requires swallowing that supply whole, a feat that demands significant buying conviction. Fail, and the path of least resistance shifts south.

On-Chain Tells the Tale

The blockchain doesn't lie. Metrics tracking exchange inflows and wallet movements show whales and long-term holders starting to distribute coins. It's classic profit-taking behavior after a strong run—a necessary, if nerve-wracking, part of any healthy market cycle. Think of it as the market taking a breath, not necessarily gasping for air.

Macro's Shadow

Never forget the backdrop. Traditional finance tremors—shifting interest rate expectations, equity market wobbles—still send shockwaves through crypto. Bitcoin's correlation to risk assets isn't zero, a fact that provides a handy excuse for profit-taking whenever Wall Street sneezes. Some traders, after all, would rather lock in gains than hope for a miracle.

What Comes Next?

The script is clear. A clean breakout and hold above $89,000 opens the door to a march toward six figures, silencing the doubters and forcing sidelined capital to chase. A rejection, however, likely triggers a deeper pullback to consolidate gains and shake out weak hands. The next directional move will be a statement on institutional appetite and retail resilience.

So, is this the pause that refreshes or the start of a larger correction? The market votes with its wallet every second. One thing's certain: in crypto, the only thing more predictable than volatility is the parade of pundits ready to say 'I told you so' after the fact—the ultimate hedge fund of opinions, always profitable in hindsight.

Bitcoin price is juggling around the crucial range at $90,000 after failing to secure acceptance above $95,000, triggering a sharp shift in short-term market structure. The rejection at higher levels has pushed BTC into consolidation mode, dragging the broader crypto market lower.

A key macro overhang is the U.S. Supreme Court ruling due Friday on the legality of tariffs imposed by former President Donald Trump. Nearly 1,000 companies have challenged the measures, warning of economic and trade disruptions. A ruling against Trump could strengthen the dollar and spark a risk-off move across global markets—pressuring Bitcoin further. In that case, BTC risks losing the $89,000 local support, opening the door to deeper downside.

BTC Price Tests the Support at 200-day MA

Bitcoin began 2026 with a strong breakout, surging from a multi-week range to nearly $95,000. However, momentum faded quickly. The price has dropped over 5% in recent sessions, with declining volume suggesting distribution rather than healthy consolidation.

Unless BTC reclaims $90,500–$91,000 swiftly, downside pressure may persist through the week, especially as macro uncertainty peaks. Holding above $89,000 remains critical to prevent a broader bearish continuation.

As seen in the above chart, the BTC price faced a rejection for the third consecutive time since December, flashing bearish signals. The MACD displays a drop in buying pressure, which may further undergo a bearish crossover. As it continues to remain within a negative range, the possibility of an extended pullback hovers over the token. However, the 200-day MA could act as a strong base and trigger a rebound, but only if the buying volume kicks in.

Momentum Cools, but the Broader Trend Remains Intact

Bitcoin’s Market Value to Realised Value (MVRV) ratio is currently hovering around 1.6, offering important context for the ongoing price correction. The MVRV ratio compares Bitcoin’s market price to the average on-chain cost basis of all coins, helping assess whether the market is overheated or undervalued.

Historically, major cycle tops have formed when MVRV rises above the 3.5–4.0 zone, a level associated with extreme profit-taking and euphoric sentiment. At present, bitcoin remains well below those thresholds, suggesting the market is not in an overheated state despite recent highs.

In previous bull cycles, Bitcoin often experienced pullbacks and consolidation phases while MVRV stayed between 1.3 and 2.0 before resuming its broader uptrend. The current reading fits that pattern, indicating that recent weakness is more likely a healthy reset rather than a structural breakdown. Downside risk WOULD increase meaningfully only if MVRV trends back toward 1.0, a scenario that would imply price returning closer to the aggregate cost basis.

The Bottom Line

Bitcoin’s pullback appears more like a momentum reset than a trend reversal. With on-chain metrics such as realized cap still rising and MVRV well below historical peak levels, the market is not showing signs of broad distribution. In the NEAR term, traders should expect continued volatility and potential tests of key support zones. Direction will depend on whether buyers defend these levels. A successful hold would keep the broader bullish structure intact, while a failure would delay upside rather than end it.