CryptoQuant: Bitcoin must hold above $87,000 at the "bull-bear fork point"; $74,000 is the last line of defense against collapse.

In the past seven days, Bitcoin has fallen from $100,000, with $87,000 becoming the “bull-bear turning point,” currently drawing significant attention from all investors. (Background: Bitcoin briefly fell below $90,000, down nearly 30% from this year's high.) (Additional background: Bernstein: A 25% pullback in Bitcoin does not mean the bull market has peaked; the fundamentals remain unchanged and seem more like a stage adjustment.) Bitcoin (Bitcoin) has dropped more than 30% from the October high of $126,000, and global investors are closely watching the three key support levels of $87,000, $79,000, and $74,000. Crypto analysis firm CryptoQuant's senior analyst Axel Adler Jr. warned that holding these price levels is essential at the bull-bear crossroads. Key levels the market needs to hold: Fair Value: $87KUS Bitcoin ETF Average Cost Basis: $79KLower bound of the volatility range: $74K Why these levels were chosen and the data behind them are explained in detail in my recent post: https://t.co/hFodyyIStD pic.twitter.com/BtBajyj9Jf — Axel Adler Jr (@AxelAdlerJr) November 18, 2025. Bitcoin's three “lifelines”: CryptoQuant senior analyst Axel Adler Jr. stated that defining $87,000 as the “fair value” for Bitcoin indicates that this threshold not only measures the bullish and bearish forces but also represents the integrity of the bull market structure. If the price stays below this line for an extended period, it indicates that the market fundamentals are beginning to waver. The second line of defense, $79,000, is the average cost basis for Bitcoin ETFs in the United States. The ETF is a primary channel for institutional entry, and this line relates to institutional risk appetite; once breached, potential selling pressure may be hard to withstand. The final line of defense at $74,000 is the lower limit of the short-term volatility range and also an area where institutions built up significant positions in the past, regarded as the “last line of defense.” Axel Adler Jr. emphasized that if Bitcoin can consolidate above these price levels, a pullback would represent a healthy whipsaw; on the contrary, especially if the $87,000 integer level is lost, the market may face a more severe test. Technical aspects: Death cross and falling wedge range-bound. Technical indicators are sending contradictory signals, with Bitcoin's price having formed a “death cross,” often seen as a precursor to a decline; short-term holders are thus facing heavy unrealized losses. However, the same report also pointed out that a bullish “falling wedge” pattern is forming. If it can break through the range of $106,000 to $107,000, the spark of the bull market still has a chance to be reignited. According to CryptoQuant Insights statistics, recent net inflows to exchanges have increased, indicating that investors are transferring coins to exchanges in preparation for selling, but the inflow magnitude has not shown widespread panic. The real focus is on the ETF cost line at $79,000. If the price breaks down below this level, institutional positions may face losses, triggering rebalancing or redemptions, leading to a second wave of dumping. Outside of ETFs, over-the-counter whales are also on the sidelines. Current trading volume is low, indicating that both sides of capital are waiting for a definitive signal. If $87,000 is lost, bulls may be forced to reduce their positions; if it holds and rebounds, bears may cover. The above is not investment advice; with increased market volatility, investors should be cautious. Related reports: Arthur Hayes: Don't be afraid if Bitcoin falls to $80,000, the real printing frenzy hasn't started yet. El Salvador invests $100 million to buy the dip for 1,090 Bitcoins, total holdings surge to 7,500 BTC. <CryptoQuant: Bitcoin must hold $87,000 at the “bull-bear crossroads,” $74,000 is the last line of defense against collapse>. This article was first published in BlockTempo, the most influential blockchain news media.