- Glassnode reports trading volume remains above its August low, while short-term holders transferred 28,690 BTC in profit to exchanges within 24 hours.
- Bitcoin is testing Darkfost’s $80,800 volume-weighted realized price, a key break-even level for invested capital.
- CryptoQuant warns that holding above the Trader Realized Price could support recovery, while a failed reclaim may turn the level into resistance and expose BTC to further downside.
Bitcoin is holding above $80,000 despite fresh profit-taking by short-term holders following its recent rally. Glassnode says trading volume remains above its August low, even after the latest market pullback. Meanwhile, Darkfost, Doctor Profit, and CryptoQuant are monitoring key cost-basis levels that could determine whether recent buyers defend their positions.
Trading Activity Holds Above August’s Low
Glassnode said Bitcoin trading volume had fallen to its lowest level since 2023 before a spike in August. However, volume has remained above that low despite BTC’s recent pullback. The data points to continued trading interest after months of limited activity.
Darkfost reported that short-term holders sent 28,690 BTC in profit to exchanges over 24 hours. The transfers came as Bitcoin rallied above $80,000. Despite the selling, BTC closed the day above $80,000 and its 21-day and 50-day exponential moving averages.
Bitcoin Tests Two Important Cost-Basis Levels
Darkfost also placed Bitcoin’s volume-weighted realized price near $80,800. This measure weights acquired supply by its dollar volume and estimates the average break-even price of invested capital. Bitcoin is now trading near that level, where holders’ positions move between unrealized profit and loss.
CryptoQuant separately said BTC is testing the Trader Realized Price. The metric tracks the average acquisition price of coins last moved between one and three months ago. CryptoQuant said the level can act as support when price holds above it. If BTC falls below and fails to reclaim it, recent buyers could move into losses, turning the level into resistance.
Analysts Watch for a Stronger Reclaim
Doctor Profit identified “Level 2” as the next area to watch after panic selling linked to a hack. The analyst said a break followed by a reclaim, confirmed by daily closes above the level, would suggest buyers had absorbed the selling and were regaining control. A brief touch alone would not meet that condition.
CryptoQuant likewise said the market’s reaction to the Trader Realized Price matters more than treating it as a guaranteed bottom. A sustained hold could show recent participants’ cost basis remains support. A failed reclaim could instead expose Bitcoin to further downside pressure.
