Bitcoin’s next rally could trigger selling from holders of 874,000 BTC
Summary
Bitcoin fell below $81,300 support, reaching about $79,370 before recovering to roughly $80,100. Bitfinex estimates 874,000 BTC was accumulated between $81,000 and $82,500, potentially creating resistance as holders seek to exit near breakeven; this is not confirmed sell-order data. ETF demand is uneven: $110.3 million in inflows on Oct. 26, all into BlackRock’s IBIT, followed two sessions with $773.5 million in withdrawals. Futures open interest rose during the decline, potentially increasing volatility. Bitfinex sees support around $77,500–$80,000 and identifies $77,765 as a key on-chain level. Bitcoin’s outlook may also be influenced by the Federal Reserve decision and upcoming US economic and inflation data.
