Bitcoin’s next rally could trigger selling from holders of 874,000 BTC
BTC when published $80,224Now $80,760 ▲ +0.67% since it was published
Bitcoin faces a potential selling hurdle near $82,500, where Bitfinex estimates investors hold 874,000 BTC. Data from CryptoSlate shows the cryptocurrency fell as low as $79,370 over the past 24 hours after losing its $81,300 support level. It later recovered to $80,102, though further gains could face selling from holders seeking to exit near their purchase prices. The potential resistance comes as US spot Bitcoin ETF demand remains uneven following substantial withdrawals last week, raising questions about whether buyers can absorb the available supply ahead of Wednesday's Federal Reserve interest-rate decision. According to Bitfinex's Oct. 26 report, approximately 874,000 BTC was accumulated between $81,000 and $82,500, creating a substantial concentration of holdings above current market prices.
First reported by CryptoSlate. This page is a short excerpt; the full text is theirs.
