Source: Cointelegraph Original: "{title}"

Bitcoin broke through $89,000 on April 22, reaching a new high since early March. This surge was driven by strong spot demand during the U.S. trading session on April 21. However, significant challenges lie ahead in breaking through the $90,000 mark due to seller liquidity constraints.

According to data from Cointelegraph Markets Pro and TradingView, Bitcoin's price has steadily approached the $89,000 level over the past six hours, raising questions in the market about whether it can ultimately break through the $90,000 threshold.

Notable trader Daan Crypto Trades posted on the X platform on April 22, stating, "BTC is approaching the important horizontal range of $90,000 to $91,000, which was previously the low of the range."

The trader explained that while BTC was consolidating below $89,000, it briefly broke above that level. It is worth noting that the 200-day simple moving average (SMA) is currently just above this level, further reinforcing the significance of this position.

Daan Crypto Trades indicated that the price needs to break through these resistance levels to confirm a breakout.

Meanwhile, CryptoQuant's research director Julio Moreno stated that the on-chain realization price for traders between $91,000 and $92,000 will be the true test for Bitcoin bulls.

According to Moreno, when the cryptocurrency market is in a bear phase, the realization price for traders often becomes a resistance level, which reflects the current market condition for Bitcoin.

Related: Bitcoin (BTC) faces key resistance near $89,000, potentially facing a 10%-15% pullback risk

This article does not constitute investment advice or recommendations. All investment and trading activities carry risks, and readers should conduct their own research before making decisions.

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