Bitcoin is testing its 20-month moving average, a level CryptoQuant describes as a key frontier for the market cycle. The analytics platform says a successful break could lead to new all-time highs.
Bitcoin may continue to new all-time highs if it breaks through its 20-month moving average at $87,165, CryptoQuant reported. The company's market cycle signals metric shows BTC/USD poised to reclaim the level, which it lost in December 2025.
A key trend line sits above the price
The 20-month SMA stands at $87,165 as of Oct. 16. It is the trend line around which the Bollinger Bands metric is built, and that metric forms the basis for CryptoQuant's market cycle signals tool.
The bands add an upper and lower line around the average, currently at $121,640 and $52,694. CryptoQuant describes the zone between the lower band and the average as an accumulation base. It refers to the average itself as an inflection frontier, a previous point of investor capitulation, most recently in December 2025.
CryptoQuant sees room beyond the record
CryptoQuant contributor GugaOnChain said that just over a year after the all-time high of $124,709 on October 6, 2025, the market has concluded its reset. The upper band sits just below Bitcoin's most recent all-time high of $126,200 from October 2025, and CryptoQuant sees the next rally continuing beyond that level.
GugaOnChain also said that while retail fears the current $82,442, the indicator reveals the market is just getting started. In the contributor's words, "we are just warming up".
The 20-month SMA also lines up with Bitcoin's 2026 opening level at $87,490, which strengthens it as resistance. Cointelegraph reported that large walls of ask liquidity remain nearby across exchange order books.
Bull-bear indicator keeps its bullish reading
CryptoQuant's bull-bear market cycle indicator continues to show Bitcoin in a bull market. The reading stands at 0.186 versus 0.042 in August, according to the report.
Source: Cointelegraph
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