Loss-making holders are out forming a bottom again
Glassnode says we saw another bout of seller capitulation during yesterday’s BTC drop. It was the same pattern in early August, mid-August, and mid-September: panic selling comes in, and a local bottom forms. This time, it’s just above $80K.
Profit-taking has slowed since the September high, while coins held at a loss are shifting from weak hands to strong hands. The price could consolidate and accumulate above $80K before testing higher. A decisive break below $80K would show that buying support isn’t deep enough, and market makers may need to shake things out lower again.
For those of you whose BTC cost basis is above $85K: are you selling at the bottom this time, or holding on for two more days and waiting for a bounce?
$BTC $ETH $SOL
Glassnode says we saw another bout of seller capitulation during yesterday’s BTC drop. It was the same pattern in early August, mid-August, and mid-September: panic selling comes in, and a local bottom forms. This time, it’s just above $80K.
Profit-taking has slowed since the September high, while coins held at a loss are shifting from weak hands to strong hands. The price could consolidate and accumulate above $80K before testing higher. A decisive break below $80K would show that buying support isn’t deep enough, and market makers may need to shake things out lower again.
For those of you whose BTC cost basis is above $85K: are you selling at the bottom this time, or holding on for two more days and waiting for a bounce?
$BTC $ETH $SOL