Bitcoin is moving into support.

After a rejection from the sell wall at $86.5K, $BTC has slid toward multiple large buy orders. The largest sits around $81k.

These bids have been patiently waiting and will help to dampen downside.

Existing holders have been carrying this $BTC rally.

The realized cap keeps climbing while new money from ETFs, stablecoins and treasuries is dropping.

The 2024 and 2025 rallies showed the same gap, but on far larger inflows. A pickup in new money would put real demand behind BTC.

Most #BTC with a visible public key is exposed through address reuse, and that part has been growing.

The balance in reused addresses rose from 3.79M to 4.33M BTC over the past year, and now covers 21.5% of circulating supply.

$BTC has bounced off the ETF cost basis.

Price spent most of this year below that level, and the May rally stalled right under it.

It has now held twice as support around $81.5k. Below it, the next major level is the True Market Mean at $77.5k.

The cost basis of investors that bought the top still caps BTC's upside.

Holders who bought 1 to 2 years ago sold heavily as $BTC rallied toward $88k, where the 6 to 12 month group breaks even. Price stalled just under it.

That selling has since slowed considerably.

BTC is holding the ETF cost basis.

That line sits near $81.5K, and every daily close for the last 3 weeks has held above it. A large block of bids waits just below.

A break under this level could set off forced selling and deepen the drop.

https://x.com/i/article/2110391618755031040

$BTC is sitting on support.

However, underneath it a large cluster of long liquidations will be triggered. Another cluster sits around $75k.

Overhead, shorts liquidations have piled up above $85k all week. The lower clusters currently appear more fragile than those above.

Bitcoin moved into an early recovery in Q3, even as the Fed resumed tightening.

Our Q4 2026 Charting Crypto report with Coinbase Institutional reads the data behind it. Its outlook: constructive, with reasons for near-term caution.

Download the report: https://glassno.de/4s56RtH

Buyers kept refilling the $BTC book today.

The low timeframe view shows that the large bids that sat at $80k for the last week were filled and new large bids were placed, pushing price up systematically.

Now we see the support level under $80k weakening again.

$BTC sellers capitulated again yesterday.

Every burst of loss selling came right at a local bottom: early August, mid-August and mid-September.

Profit taking has slowed since the September high.

If the pattern holds, yesterday's selling just above $80k would mark the floor.

Weekend selling has hit altcoins hard.

As fear from equities spills into crypto, the typical altcoin is down over 5%. If the weekend closes like this it would be the largest weekend drop since April.

Since the $BTC low in June, buying Friday and selling Sunday was profitable.