Bitcoin price and market data show BTC trading around $81,300 at the latest update, with a 24-hour range between $77,968 and $81,675. The recovery has brought Bitcoin back toward the area where derivative positioning and historical supply could become important for the next move.
The latest Bitcoin price action is also being supported by a recovery in the entity-adjusted Spent Output Profit Ratio (SOPR). Glassnode’s metric has moved above the 1.0 break-even level, suggesting that coins being spent are, on average, realizing profits rather than losses.
Bitcoin Price Holds $81K as SOPR Recovers
SOPR measures the profit or loss realized when Bitcoin moves on-chain. An entity-adjusted version removes transfers between addresses controlled by the same entity, making the metric more focused on economically meaningful transactions. A reading above 1 indicates that spent coins are being moved at a profit on average.
Current demand remains strong, allowing Bitcoin to realize profits without immediate selling pressure, while a sustained SOPR above 1 supports a bullish market structure. Source: Glassnode via X
Glassnode’s latest data shows the metric above 1, reinforcing the view that profit-taking has not yet translated into an immediate breakdown in the BTC price. The firm’s analysis said sustained entity-adjusted SOPR above 1 is a characteristic associated with bull-market conditions, while a move back below 1 would indicate weakening demand.
That distinction is important for the current Bitcoin price setup today. A market can experience significant profit-taking while remaining stable if incoming demand absorbs the coins being sold. In this case, Bitcoin’s ability to remain near $81,000 while SOPR stays above its break-even level suggests that realized selling has so far been met by sufficient demand.
Glassnode’s data also shows that the latest SOPR reading is not simply a one-day spike. The entity-adjusted metric has remained above 1 for an extended period, providing a broader signal than an isolated daily move.
$83K-$86K Remains the Key Bitcoin Resistance
The next important area for the price of Bitcoin sits above the current market. Glassnode has identified an overhead zone between $83,000 and $86,000 where several market structures converge.
Its September analysis found that long-term holder cost basis, the futures liquidation map, and institutional ETF break-even levels all point toward the same resistance band. Around 1.07 million BTC was acquired between $83,000 and $86,000, creating a substantial concentration of supply in that area.
Bitcoin is approaching a dense $83K-$86K liquidation zone, where short covering could accelerate upward price movement if the level is reached. Source: Glassnode via X
The derivatives market adds another layer to the setup. Glassnode’s futures liquidation heatmap shows a dense concentration of short liquidation levels between roughly $82,000 and $86,000. The firm previously noted that the August short squeeze consumed much of the liquidation liquidity along Bitcoin’s path, while this higher band remained largely intact.
This creates a potentially important technical interaction. If Bitcoin moves into the $83,000-$86,000 area, short positions could come under pressure. Forced closures of those positions can generate additional market buying, although the presence of liquidation levels does not guarantee that a squeeze will occur.
Glassnode described the zone as a ceiling that has been reinforced by multiple independent datasets. A sustained move through it would therefore represent a more significant technical development than a brief intraday move above $83,000.
Bitcoin Technical Signals Remain Mixed
TradingView’s latest technical summary presents a mixed short-term picture. The overall rating is neutral, while moving averages provide a stronger bullish signal.
Bitcoin remains above its major short- and long-term moving averages. The 50-day EMA stands around $74,242, while the 200-day EMA is near $73,278. The corresponding simple moving averages are also well below the current market price. This leaves BTC above a broad cluster of trend indicators that have shifted into buy territory.
Bitcoin (BTC) price chart. Source: Brave New Coin
Momentum indicators are less uniform. The Relative Strength Index is around 64, leaving it below the conventional 70 overbought threshold. Stochastic readings are also below extreme levels, while the Awesome Oscillator and Momentum indicators are positive. At the same time, the MACD carries a sell signal, providing a counterpoint to the broader moving-average strength.
The technical picture therefore does not show an unambiguous breakout signal. Instead, it points to a market that has recovered substantially but is now approaching an area where resistance could determine whether the advance extends.
The immediate levels are also relatively clear. Fibonacci calculations place resistance near $81,430 and $85,970, while Camarilla levels identify $82,098 and $83,862 as successive resistance points. On the downside, Camarilla support sits around $76,808 and $75,044.
These levels put the current BTC price close to an important decision area. Holding above the upper-$70,000 region would preserve the recent recovery structure, while a decisive move through the low-to-mid $80,000s would bring the larger $83,000-$86,000 supply zone into focus.
Rising Hashrate Adds to Bitcoin Network Strength
Network fundamentals are also showing improvement. CryptoQuant’s latest data highlights a renewed upward trend in Bitcoin’s true hashrate after a recent decline.
Hashrate measures the computational power dedicated to securing the Bitcoin network. Rising hashrate generally indicates that more computing power is participating in mining, increasing competition among miners and strengthening the network’s resistance to attacks.
Bitcoin’s hashrate is rising again, indicating higher mining costs and potentially reinforcing BTC’s underlying network value. Source: CryptoQuant via X
The relationship between hashrate and the Bitcoin price forecast should not be treated as a direct short-term trading signal. Mining economics can respond to Bitcoin’s price, energy costs, hardware efficiency, and network difficulty. However, sustained growth in computational power provides useful context when assessing the health of the underlying network.
The latest recovery in hashrate therefore adds a fundamental dimension to an otherwise largely market-structure-driven Bitcoin setup.
What Could Define the Next BTC Move?
Bitcoin’s current structure is increasingly concentrated around two areas. The first is the support region in the upper-$70,000s to around $81,000, where the recent recovery has developed. The second is the $83,000-$86,000 zone, where long-term holder supply and short liquidation levels overlap.
Glassnode’s recent research noted that selling pressure approaching the resistance band had fallen substantially compared with August. The firm also found that long-term holders were relatively inactive during the latest advance, leaving the market with a repaired floor but an untested ceiling.
Bitcoin is showing a potential bear trap followed by a springboard setup, signaling a potentially powerful price move. Source: @PeterLBrandt via X
That makes the $83,000-$86,000 area particularly relevant for the Bitcoin price news today. A move into the zone could test whether existing supply absorbs demand or whether derivative positioning contributes to a sharper advance.
On the other hand, a failure to maintain the recent recovery would shift attention back toward the $78,000-$76,000 region. That area contains several short-term moving averages and pivot-based support levels, making it an important reference point for assessing whether the latest rebound remains intact.
Peter Brandt has separately highlighted a chart structure in which Bitcoin briefly breaks below approximately $76,000 before reversing sharply higher. He described the pattern as a “springboard,” framing the failed breakdown as a potentially significant technical sequence. The observation adds context to the recovery but does not by itself establish a future Bitcoin price prediction.
For now, the combination of SOPR above 1, rising network hashrate, and Bitcoin’s position above major moving averages provides evidence of improving market conditions. At the same time, the $83,000-$86,000 supply and liquidation zone remains a clear test for the recovery. The interaction between those demand and resistance levels is likely to be more informative than any single indicator when assessing the next phase of Bitcoin price action.
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