Bitcoin risks falling below $80K if key support fails, analysts warn
- —US spot Bitcoin ETFs' average purchase price is about $81,500; corporate treasury holders sit near $80,200
- —Glassnode's True Market Mean is around $77,600, the next target if support breaks
- —Bulls need a sustained move above $85,000–87,000 to regain control, with $92,000 next
- —Brent crude hit $114.70 a barrel ahead of the Fed's rate decision on October 28
Why it matters: Losing $80,000 would push ETF and corporate buyers below their cost basis, potentially amplifying selling pressure.
Source: Comparic