Bitcoin hasn’t been doing anything wild lately. For the past few days, it’s just been moving between $83,000 and $86,000—pretty much stuck in a loop. But according to crypto analyst Burak Kesmeci, this quiet phase could be setting the stage for a bigger move soon.
What’s Holding Bitcoin Up (And What’s Holding It Back)?
Kesmeci took a closer look at some behind-the-scenes data—specifically, how much people paid for their Bitcoin recently. He says the average price paid by newer buyers (those who got in during the past 1 to 4 weeks) is around $82,800. Since most of them are still in the green, they’re likely to hold onto their BTC if prices dip, making that level a kind of “floor” or support.
On the flip side, people who bought Bitcoin 1 to 3 months ago paid closer to $92,000. Many of them have been waiting to recover their losses, so if the price gets back up there, they might start selling. That’s why $92K is now seen as a resistance point.
In previous Bitcoin cycles, things usually start heating up when recent buyers (1–4 weeks) are willing to pay more than the 1–3 month crowd. It’s kind of like saying, “Hey, we’re confident—we’ll buy at higher prices,” which often kicks off a stronger uptrend. But right now, we’re not seeing that flip just yet.
Currently, Bitcoin is hovering around $85,000. That means it’s above the short-term support, but still a good way off from the resistance. Kesmeci says we’ll need to break above $92,000 to see a real bullish push.
Institutions Pulling Out?
Meanwhile, some big investors seem to be backing off. Crypto analyst Ali Martinez noted that Bitcoin ETFs sold about 1,725 BTC last week—worth around $146 million. That kind of move usually signals caution or a shift in sentiment, especially among institutional players.
We’ve seen this happen before. For example, in mid-2022, ETFs started pulling out when inflation fears were rising, and Bitcoin dropped hard—from nearly $47,000 to under $20,000 in just a few months.
Right now though, things aren’t looking too dramatic. Bitcoin is sitting at $85,249, up slightly by 0.89% in the past 24 hours. It’s dipped a bit over the past week, but still up around 1% for the month.
