Bitcoin Faces $85,000–$87,500 Supply Test After $80,000 Rebound

TL;DR: Glassnode’s October 21 report identifies an overhead Bitcoin supply zone around $85,000–$87,500 after bids returned near $80,000. Its levels describe a market structure, not a guaranteed price path. Bitcoin’s rebound has brought it back toward a cluster of holders, sell orders and leveraged positions that could make the next leg harder to sustain. In its latest Week Onchain report, Glassnode places that area at roughly $85,000 to $87,500. The research follows Bitcoin’s October 15 dip toward $80,000 and the subsequent return of bids around that level. Several Measures Point To The Same Area Glassnode estimates the cost basis of coins held for six to 12 months at about $86,700. It also identifies sell-side order-book liquidity and modeled liquidation concentrations near the upper part of the trading range.

First reported by NewsBTC. This page is a short excerpt; the full text is theirs.