$BTC just tested $80K for the 3rd time in 7 days, and each dip had fewer panic sellers than the last. Hot U.S. CPI (3.7% vs 3.6% expected) triggered the latest drop and nearly $1B in liquidations. Yet $80K keeps holding. It sits just under the $81.5K average cost basis of U.S. spot ETFs, which BTC dipped below on Oct 8 and 13 and reclaimed both times. So which comes first, $65K or $94K? The bear path: a confirmed close under $80.1K exposes a liquidation cluster below, then $76-78K. Only a deeper breakdown points to $70-65K. The bull path: BTC must clear $83K, then $88K, where 6-12 month holders break even. Beyond that, the channel target sits near $93-94K. $94K comes first, but not before one more shakeout toward $76-78K. From $81K, $94K is +16% while $65K is -20%, and short-term holders in loss are at 31% versus a 42.7% average. That doesn’t look like capitulation yet. #BTC Price Analysis# #Altcoin Season# #Macro Insights#