Bitcoin Faces Key Resistance at $91,275 as BTC Struggles to Break Out of Consolidation

Bitcoin prices gained by only 0.95% in the past week amidst an intense market consolidation. The premier cryptocurrency is struggling to break out of the $85,000-$86,000 price range

Bitcoin price has risen by only 0.95% over the past week as the crypto market continues to stall.

The major cryptocurrency has struggled to break out of the $85,000-$86,000 price range following an impressive price rally in the second week of April.

However, popular crypto analyst Ali Martinez has identified the major price resistance for the current Bitcoin uptrend.

In a recent post on X, Martinez stated that Bitcoin faces a key resistance level at the $91,275 following a price rebound in early April.

Notably, the asset surged by 17.33% after reaching a price low of $75,000 on April 9. Nonetheless, BTC has since entered a consolidation following this feat, producing no significant price movement in either direction.

Over the past week, the crypto market leader moved only between $84,000 to $86,000, forming a tight range-bound market.

However, amidst these struggles, Martinez states that Bitcoin short-term holders realized the price lies at $91,275, indicating the pivotal resistance to the recent market resurgence lies ahead.

For context, the short-term holders’ realized price is the average price at which new buyers (i.e, new investors of Bitcoin over the past 155 days) acquired their BTC. It is an important technical indicator used to evaluate short-term market sentiment and behavior.

When a market price is above the STH realized price, it indicates a bullish momentum as recent buyers are in profit and are likely to hold. In this case, the STH realized price serves as a strong support level, with new market entrants often defending their entry zone.

However, when Bitcoin’s price is below the STH realized price as currently seen in the market, the realized price forms a significant psychological price resistance. This is because many short-term holders may choose to exit once the market breaks even, increasing the selling pressure around that zone.

Therefore, Bitcoin reclaiming $91,275 is essential to validate a sufficient bullish potential to fuel a complete price reversal.