Bitcoin briefly dipped below $80,000 before bouncing back above $82,000, supported by buy orders at the $80,000 level. However, data from Glassnode shows that buy orders below this key threshold are becoming scarcer, which could weaken future rebounds. The price movements were accompanied by significant liquidations in derivative markets, while US inflation pressures persist with wholesale prices rising 6.3% year-over-year. Investors remain cautious as they await further Federal Reserve guidance, with mixed predictions on Bitcoin's near-term price direction.
Bitcoin's recent price action is notable as 41 out of 50 major cryptocurrencies on Pluang rose today. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 16, 2026 22:02 WIB: MANA (Decentraland) increased 6.15% to Rp1.622 with a typical hold time of 156 days and 85% sell order activity; ALGO (Algorand) rose 6.11% to Rp2.137 with 68% buy orders; YFI (Yearn) gained 5.06% to Rp42.049.247 with 100% buy orders and a hold time of 93 days.
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