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

Bitcoin is pushing back toward $86K after buyers defended the $80K short-term demand zone once again, with BTC trading close to $85K. The rebound comes as markets price in roughly a 25% chance of another Fed hike at the late October meeting, following September’s quarter-point increase. Meanwhile, the NVM Ratio has climbed to its highest level since early 2026, indicating that BTC might be overvalued in terms of network activity. Bitcoin Price Analysis: The Daily Chart BTC continues to trade within the ascending channel that has defined the recovery from the late-June lows near $58K. The rally carried price into the $86K-$90K supply zone, where the February sell-off began. Two attempts to break through this area produced only wicks toward $87K, as the market was rejected to the downside. The structure remains constructive as long as Bitcoin holds above the channel’s midpoint, currently near $80K. A decisive daily close above $86K would be needed to break into the supply zone and open the way toward $90K. Losing the channel midline, however, would shift the focus to the $75K-$78K weekly order block, which was the base of the September rally. Below that, the lower channel boundary ne...