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      Bitcoin Price Stabilizes Near $88,000 Amid Reduced Selling Pressure

      Bitcoin's price has recently stabilized near $88,000 as selling pressure from long-term holders appears to be diminishing. Investors who purchased Bitcoin one to two years ago took the opportunity to cash out as prices approached this level, contributing to a significant sell-off. On-chain data from Glassnode indicates that these long-term holders, who typically endure market volatility, recorded their highest daily selling volumes of the year in early October 2026 as Bitcoin neared resistance levels between $85,000 and $87,000.

      The market experienced a notable dip, with Bitcoin trading between $83,000 and $87,000 before slipping below $85,000. This decline was accompanied by over $2.4 billion in long liquidations, affecting traders who had borrowed funds to speculate on rising prices. Despite this leverage flush, analysts suggest that the broader market structure remains intact, with buyers stepping in around $81,000 to $82,000, creating a support cluster in that range.

      Looking ahead, QCP Capital forecasts that Bitcoin will likely trade within a range of $80,000 to $90,000 for the fourth quarter of 2026. They anticipate accumulation around $80,000 to $82,000, while resistance is expected near $88,000 to $90,000. The future trajectory of Bitcoin's price will depend on macroeconomic factors, including the upcoming Consumer Price Index report and shifts in demand for Bitcoin exchange-traded funds (ETFs).

      © 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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