Bitcoin surged above $85,000 after 69,494 wallets from smaller-holder groups reduced their holdings during the July-August downturn. This sell-off, seen as capitulation, likely cleared out reactive supply, allowing stronger hands to hold more coins ahead of the rally. Larger holders accumulated significant amounts during this period, reducing available supply and supporting the price rebound. The rally was further boosted by short liquidations and renewed inflows into U.S. spot Bitcoin ETFs, signaling growing institutional demand. However, experts caution that smaller-holder capitulation does not guarantee sustained gains and that aggressive buying near highs can be risky.
The story about Bitcoin holders selling before the $85K rally is provided here with Pluang market data for context. For readers following cryptocurrency markets, 40 of 50 major cryptocurrencies rose while 9 fell. Bitcoin was priced at Rp1.524.504.152 with a 1-day change of +5.62%, typical hold time on Pluang was 110 days, and order activity was 65% Sell / 35% Buy as of Sep 22, 2026 00:52 WIB.
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