Uncertainty on Bitcoin Price at 80% Threshold

Bitcoin rebounded from around $80,000 but remains under pressure, falling below $82,000 and facing resistance in the $85,000–$87,500 range. Reports highlight that rising US money supply to $23.3 trillion has not translated into near-term Bitcoin strength, as market selling and resistance continue to outweigh the broader liquidity backdrop. A sustained break above resistance would improve the recovery outlook; failure to hold support leaves BTC vulnerable to renewed downside.

Glassnode data indicate that heavy buying by large Bitcoin investors has stalled BTC’s advance, with $87,700 emerging as a key level for price direction. The concentration of buying appears to be meeting resistance from sellers, limiting near-term upside. A sustained move above that level could signal renewed momentum; failure to break through may keep Bitcoin range-bound or expose it to a pullback.

Bitcoin’s $80,000 support held during a recent test, but Glassnode data indicates the demand underpinning it is weakening. Hut 8’s transfer of $161 million in bitcoin to exchanges adds a potential source of near-term selling pressure, though an exchange deposit does not confirm a sale. Together, the reports suggest the price floor may be less resilient if selling increases or demand remains subdued.

Glassnode says Bitcoin remains constrained below the roughly $88,000 cost basis of holders who acquired coins in the past six months, a level that may act as resistance as these investors seek to break even. Selling pressure from this group has eased, suggesting fewer holders are rushing to exit, but that has not yet translated into a decisive breakout. Bitcoin’s near-term direction may depend on whether demand can absorb supply around the cost-basis level.