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Bitcoin could face additional selling pressure as short-term holders take profits and market liquidity weakens, according to an AMBCrypto analysis.
The outlet said about 86% of the Bitcoin sent to exchanges in early October came from short-term holders sitting on gains, signaling some recent buyers may move to lock in profits. If selling outweighs buying demand, routine profit-taking could turn into heavier selling pressure, it said.
AMBCrypto added that more investors moved into profit after September’s price recovery, while average daily trading volume in the spot market and U.S. spot Bitcoin ETFs remained around $6.8 billion, indicating liquidity was not strong enough. BTC has repeatedly tested support around $80,000 over the past two weeks, and if that level breaks, the next major support would be $75,000, according to the analysis.