Bitcoin rebounds above $71,400; $78K, $101K targets in focus

• Price finds support at the realized cost basis for medium-term holders
• On-chain data signals potential moves toward $78,200, $90,000, and $101,000

On May 31, 2026, Cointelegraph reported Bitcoin’s bounce from $71,400, the realized cost basis for coins held three to six months. This support has spurred a recovery toward $74,000, with traders now watching $78,200 as the next upside target.

On-chain analyst Marcus Corvinus called $71,400 “the strongest near-term support.” His analysis highlights that medium-term holders, who remain in profit at this level, are likely to defend it. Their ability to maintain this floor is seen as crucial for extending bullish momentum.

Data from Glassnode shows that rebounds above this realized cost basis have often preceded rallies. Since 2017, similar breakouts have led to average Bitcoin gains of 2.3% after 30 days, 21.9% after 90 days, and 36.6% after 180 days, translating to targets of about $75,700, $90,200, and $101,100 from today’s price. The odds of positive six-month returns stand at 79.2%, reinforcing the strength of this technical signal.

Still, risks persist as Bitcoin’s rebound occurs near the lower boundary of a bear flag pattern. If $71,400 support holds, the next key target is $90,000—near the flag’s upper edge and another cluster of realized holder prices. A daily close under $71,400 could confirm a breakdown, opening the door to losses toward the $50,000–$60,000 region.

On-chain trends point to higher price targets if bulls can sustain $71,400—namely $78,200 in the near term, with $90,000 and $101,000 possible over six months. A breakdown below this support could set off renewed downside toward $50,000–$60,000, Cointelegraph notes.

As of May 31, 2026, 22:09 UTC, Bitcoin (BTC) trades at $73,672.19, down 0.11% in 24-hour volume, according to CoinMarketCap.