Bitcoin has fallen nearly 5% this week after repeatedly failing to hold above $85,000, trading around $83,100. Combined spot and ETF trading volumes averaged about $6.8 billion per day over the seven days through October 6, lower than 90% of trading days since January 2024. About 86% of Bitcoin sent to exchanges on October 4 came from short-term holders selling at a profit, the highest share in a year. Approximately 92% of all short-term holders are currently in profit, equivalent to roughly 3.27 million BTC. The next key support level lies around $81,900, the average cost basis for Bitcoin acquired between one week and one month ago.
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