Bitcoin hovers below $84,000-$85,000 holder supply zone, Glassnode says

  • Bitcoin fell to an intraday low of $82,563 and traded near $83,000 below Glassnode’s $84,000-$85,000 holder-cost zone.
  • U.S. spot Bitcoin ETFs received $2.39 billion in net inflows from Sept. 21 to 25, including about $1.16 billion for BlackRock’s iShares Bitcoin Trust.
  • The 10-year Treasury yield reached 5.23%, its highest level since 2007, as markets awaited inflation, employment and manufacturing data.

Bitcoin fell to an intraday low of $82,563 on Sept. 28 and traded near $83,000 on Sept. 29, below the $84,000-to-$85,000 range that Glassnode identified as the largest concentration of long-term-holder acquisition prices. Glassnode said the uptrend can continue only if Bitcoin breaks above the zone and establishes support there. The retreat from a Sept. 21 high near $87,400 came as Treasury yields, the dollar and energy prices rose, although U.S. spot Bitcoin ETFs recorded $2.39 billion in net inflows from Sept. 21 to 25. Markets were awaiting U.S. inflation, labor-market and manufacturing data for signals on yields and Federal Reserve policy.

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