BTC is trapped in an “$80K–$87K box”; the next key lies in two dates 🔒
Glassnode’s latest weekly report:
📉 After BTC dipped to around $80K on 10/15, buying demand returned around the cost basis of ETFs and treasury companies
📈 There’s a sell wall and liquidation cluster above $85K–$87.5K. The cost basis for buyers from 6–12 months ago is around $86.7K, so breakeven sellers could put pressure on the price
⚠️ If BTC falls below $80K, the average ETF and treasury holder will be underwater
Two catalysts:
1️⃣ 10/28: Fed rate decision
2️⃣ 11/11: MSCI announces its removal list (effective 11/30). Strategy may be included, potentially forcing index funds to sell shares. MSTR already fell nearly 10% in a single day on 10/16 while BTC barely moved
My take: Focus on selling high and buying low within the range. The real direction will have to wait until these two dates. A breakout above $87K could be explosive, but the selling pressure overhead is real too.
Do you think we’ll break above $87K first or retest $80K? Let me know in the comments 👇
$BTC $MSTR
#比特币 #Glassnode #CryptoMarket
Personal opinion only; not investment advice
Glassnode’s latest weekly report:
📉 After BTC dipped to around $80K on 10/15, buying demand returned around the cost basis of ETFs and treasury companies
📈 There’s a sell wall and liquidation cluster above $85K–$87.5K. The cost basis for buyers from 6–12 months ago is around $86.7K, so breakeven sellers could put pressure on the price
⚠️ If BTC falls below $80K, the average ETF and treasury holder will be underwater
Two catalysts:
1️⃣ 10/28: Fed rate decision
2️⃣ 11/11: MSCI announces its removal list (effective 11/30). Strategy may be included, potentially forcing index funds to sell shares. MSTR already fell nearly 10% in a single day on 10/16 while BTC barely moved
My take: Focus on selling high and buying low within the range. The real direction will have to wait until these two dates. A breakout above $87K could be explosive, but the selling pressure overhead is real too.
Do you think we’ll break above $87K first or retest $80K? Let me know in the comments 👇
$BTC $MSTR
#比特币 #Glassnode #CryptoMarket
Personal opinion only; not investment advice