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      Bitcoin Loss-Selling Spike Near $80,000 May Indicate Local Bottom, Says Glassnode

      On October 15, 2026, Bitcoin experienced a significant sell-off as its price approached $80,000, prompting many holders to capitulate and sell at a loss. On-chain analytics firm Glassnode reported that this pattern of loss-selling has historically preceded local price bottoms, suggesting that the current market may be stabilizing after recent declines.

      Glassnode noted that similar loss-selling events occurred in August and September 2026, where bursts of selling at a loss were followed by price recoveries. Following the recent dip, Bitcoin's price rebounded slightly, trading around $82,400 on October 15 and $82,700 on October 16, 2026, after briefly falling below the $80,000 threshold earlier in the month.

      The firm highlighted key price levels to watch, including the cost basis for U.S. spot Bitcoin Exchange-Traded Fund (ETF) holders at approximately $81,500, and the True Market Mean, estimated between $77,500 and $78,000. A sustained drop below these levels could indicate further weakness in the market, while a rise above $88,000 would suggest that the market has absorbed recent profit-taking activity.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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