Bitcoin experienced a spike in loss-selling as its price neared $80,000, a pattern Glassnode identifies as potential capitulation that often precedes local bottoms. Similar sell-offs at a loss occurred in August and September 2026, each followed by a price rebound. Key price levels to watch include the $81,500 cost basis for US spot Bitcoin ETF holders and the $77,500-$78,000 True Market Mean. While ETF inflows have slowed and outflows increased recently, the current ratio of profitable to unprofitable Bitcoin spending supports a possible price floor. The market's next move depends on whether Bitcoin holds above these levels or breaks lower, with resistance near $88,000 also critical.
Bitcoin's recent loss-selling spike near $80,000 is noted here alongside Pluang's market data for context. As of Oct 16, 2026 19:51 WIB, 44 of 50 major cryptocurrencies priced on Pluang rose while 5 fell. Notable gainers include EOS at Rp12.649 (+8.13%), AAVE at Rp2.884.403 (+8.11%), and UNI at Rp133.144 (+8.04%).
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