Bitcoin is trading around $81,542 and nearing support at $80,000, although BTC holders who have held for 6–12 months have sharply reduced the share of their coins transferred to exchanges. Spot flows and technical indicators still point to selling pressure.

Data from CryptoQuant and CoinGlass, along with whale transactions, point to conflicting supply signals. BTC transfers to exchanges from one investor group have declined, but net flows in the spot market remain positive, leaving the short-term outlook unclear.

KEY CONTENT

• The share of BTC transferred to exchanges by 6–12-month holders fell from 40.4% to 4.4%.

• Two whale transactions totaled approximately $307.1 million, but only one involved withdrawing BTC from an exchange.

• The $80,000 support level is worth watching as CMF remains negative and RSI weakens.

Bitcoin nears $80,000 support

Bitcoin had not tested the $80,000 level at the time of writing, but had moved closer to this support zone after failing to sustain its recovery toward $87,333.

BTC was trading at around $81,542 at the time. The negative Chaikin Money Flow (CMF) indicated outflows, while the RSI was below its own moving average, pointing to weakening price momentum.

Price level or indicator Recorded value Significance in the analysis Bitcoin price Around $81,542 Nearing the psychological support zone Psychological support $80,000 Untested at the time of writing Resistance $83,895 Price level in the recovery scenario Higher recovery target $87,333 BTC failed to sustain its recovery toward this price zone CMF -0.14 Indicates outflows and selling pressure RSI 46.42 Below the RSI moving average RSI moving average 52.95 Benchmark for price strength

The Bitcoin liquidation heatmap on Binance, provided by CoinGlass, shows liquidation clusters around $80,000. The price could approach this liquidity concentration zone before a rebound occurs.

The recovery scenario outlined is for BTC to move toward $83,895, followed by $87,333. However, CMF and RSI currently point to downward pressure; these levels remain scenario targets and have not been confirmed by price action.

Source: BTC/USDT on TradingView

6–12-month BTC holders reduce the share transferred to exchanges

Bitcoin holders who have held for 6–12 months reduced the share of BTC they transferred to exchanges from 40.4% on June 17 to 4.4% on October 15, according to CryptoQuant.

The volume of BTC moved over the 30-day period, however, increased compared with June. The divergence between the total amount moved and the share sent to exchanges suggests a change in how this investor group is moving its assets.

Metric for 6–12-month holders Previous reading Latest reading Share of BTC transferred to exchanges 40.4% on June 17 4.4% on October 15 BTC moved over 30 days 157,700 BTC in June 205,400 BTC in the latest period

A lower share transferred to exchanges may indicate less immediate selling pressure from 6–12-month holders. However, the signal from this group alone is not enough to conclude that selling pressure across the entire market has eased.

Two whale transactions worth approximately $307.1 million

Two whale transactions moved a total of 3,766 BTC, but only the withdrawal of 888 BTC from Kraken directly reduced the amount of Bitcoin held on exchanges.

Whale Alert reported on X a transfer of 2,878 BTC between two unidentified wallets. A separate transaction was a BTC withdrawal from Kraken, so the total value of both transactions cannot be treated as Bitcoin leaving exchanges.

Transaction BTC amount Estimated value Direct impact on BTC held on exchanges Transfer between two unidentified wallets 2,878 BTC $234.28 million Unclear Withdrawal from Kraken 888 BTC $72.82 million Reduces BTC held on Kraken Total 3,766 BTC $307.1 million Only the Kraken withdrawal is confirmed as BTC leaving an exchange

Spot flows still favor exchange inflows

Bitcoin's net flow across spot exchanges was still positive at $18.65 million at the time of writing, according to CoinGlass data. Inflows exceeded outflows during the reporting period.

A positive net flow indicates that the overall amount of BTC held on exchanges increased, in contrast to the Kraken withdrawal and the lower share transferred to exchanges by 6–12-month holders.

An increase in the BTC available on trading platforms could add to the supply that may be sold. However, a positive net flow alone does not confirm that holders intend to sell their BTC.

Source: BTC spot exchange net flows from CoinGlass

Summary

Bitcoin is showing mixed supply signals: 6–12-month holders have reduced the share of BTC they transfer to exchanges, while overall spot flows remain positive. With CMF negative and RSI weakening, the $80,000 zone remains a key level to watch when assessing whether BTC can hold support and recover.

Source: https://tintucbitcoin.com/nha-dau-tu-bitcoin-giam-nap-san-gia-sap-hoi-ve-80-000-usd/

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