Bitcoin Hits a Wall of Underwater Buyers

At roughly $83,000, more than half of Bitcoin’s realized capital sits in coins bought at higher prices. Checkonchain data shows the thickest cluster lies between $84,000 and $85,000. A return to that range could trigger selling from holders looking to break even.

Fresh ETF numbers add to the caution. U.S. spot Bitcoin funds saw $679 million in net outflows between October 5 and 9, with the heaviest redemptions on the 7th and 8th. The current rebound lacks strong institutional support.

Darkfost points out that a sustained move above $85,000 would prove demand can absorb the supply. Otherwise, the next area of interest becomes the $77,000–$79,000 zone where another cost-basis cluster sits.

Based on information from cryptonews.net