BlockBeats News, May 7th, according to CryptoQuant data, Bitcoin is currently holding above $80,000, but there are still three batches of hodlers entrenched above this price, forming a significant resistance.

3–6 Month Realized Price: $88,880—First Sell Wall;

12–18 Month Realized Price: $93,450—Second Barrier;

6–12 Month Realized Price: $111,850—Heaviest Concentration of Chips, 29% higher than the current price.

Analysis points out that for Bitcoin to confirm the bottom, the price needs to break through and hold above $88,880. This would allow the most recent batch of hodlers to return to profit and dismantle the first layer of selling pressure.