In this video: Bitcoin fell to about $80,300 on Thursday and slipped below what the ETF buyers paid on average. So where is the floor? Video by More Crypto Online.
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Instead of guessing, we walk through the cost basis of the big buyer groups step by step, like a staircase: the ETF buyers, the 2024 and 2025 buyers, the True Market Mean, the volume profile from the MCO Terminal, Strategy, Glassnode's liquidation clusters, the short-term holders and the 2026 buyers. From about $77,000 down, everything suddenly bunches together, and that is exactly where my orange support zone on the daily chart begins. Plus the 1-hour chart with the path into the box, and what would open the door to one more high.
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Bitcoin Insights Today
• Geopolitical Headlines & Easing Pressure: The market recovered from its local lows after U.S. macro headlines indicated a temporary pause in direct Middle East military escalations ahead of the upcoming midterm elections, causing crude oil prices to cool down.
• Macro Backdrop: Broad risk appetite remains restricted by sticky inflation concerns, high domestic bond yields, and speculation regarding future central bank interest rate decisions. Traders are looking ahead to the upcoming Consumer Price Index (CPI) print on October 14 for clearer economic direction.
• Massive Derivative Liquidations: The drop to the $80,000 range triggered $1.09 billion in liquidations within a 24-hour window, forcing short-term speculators to capitulate and move over 55,000 BTC to exchanges at a loss.
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