Glassnode: “Bitcoin Price Is Stuck” – A Critical Date Is Approaching – Here’s What You Need to Know

Cryptocurrency analytics company Glassnode, in its latest report, stated that Bitcoin (BTC) is stuck between $80,000 and $87,000, and that upcoming price movements could determine the market's direction. According to the company, there are strong buy orders at the $80,000 level, while significant selling pressure exists in the $85,000-$87,500 range. According to Glassnode's analysis, Bitcoin fell to around $80,000 on October 15, testing the average cost levels of spot Bitcoin ETFs and companies holding institutional Bitcoin reserves. However, the resurgence of buy orders in that region within a few days indicated that investors continued to accumulate Bitcoin at those levels.