Bitcoin Price Analysis: BTC Blasts Past $84K – Is $90K the Next Target?

Bitcoin advanced toward $86,000 and traded near $85,000 after buyers held the $80,000 short-term demand area. The cryptocurrency is still moving inside an upward channel that began at late-June lows around $58,000, and it has twice been turned back near $87,000 at the $86,000-$90,000 supply area linked to February's sell-off. Its constructive structure depends on staying above the channel midpoint around $80,000; a daily close above $86,000 would be required to reach $90,000, while a break of the midpoint would put the $75,000-$78,000 area, the starting point of September's rally, in focus. CryptoQuant's NVM Ratio, which compares market value with the square of daily active addresses, has risen to about 4.1, implying thinner valuation support from network usage.