Bitcoin holds above $80K, but profit-taking and dormant wallets threaten support
- —86% of early-October BTC exchange deposits came from short-term holders in profit
- —BTC trades nearly 10% above the $75K short-term holder cost basis
- —A dormant wallet moved 4,582 BTC worth $377.58 million after years of inactivity
- —LTH SOPR rose to 1.25 weekly and 1.16 monthly, back in profit territory
Why it matters: If short-term holders keep locking in gains and dormant wallets return to the market, the $80K support may fail and open the way to $75K.
Source: AMBCrypto