Bitcoin swept to $80K and bids refilled as overhead supply built

Bitcoin was swept down to about $80,000 on October 15, then found buyers quickly at a level that sits just under the average cost basis of U.S. spot ETF holders and corporate treasuries, according to Glassnode’s week-on-chain report published October 21, 2026. The move matters because the same zone has now acted as both support and a test of demand, while heavier supply remains above the market. Glassnode said the deepest dip on October 15 reached an hourly close of $80.1K before the next hourly close recovered back above the U.S. spot ETF cost basis.