Bitcoin Price Flashes a Hidden Uptrend Signal Amid One 96% Problem
Key Summary
Bitcoin price remains near $82,300, up 28% over three months, despite a 96% drop in long-term holder buying. A hidden bullish divergence on the daily chart suggests the uptrend can survive, but a decline below $80,383 would break the trend and cancel the divergence. Analysts believe a daily close above $88,086 could bring back both holders and funds, while a drop under $80,383 would expose $75,041.
Bitcoin Price Shows Hidden Uptrend Amid 96% Holder Selling
Analysis of Bitcoin Price Movement
Bitcoin price has trended higher since bouncing from $75,041 on September 15. The pullback found a floor at $80,383 on October 8, the higher low behind the divergence, and has since rebounded. Holder buying peaked around September 20 and 21, as price ran above the $86,616 mark. That zone now sits just under $88,086, the 0.618 Fibonacci level where rebounds often stall, about 7% above the current price.
Bitcoin Hodler Net Position Change
Hodler Net Position Change, a Glassnode metric that tracks the monthly change in coins held by long-term holders, peaked at 25,734 BTC on September 20. By October 8, it had dropped 96% to 1,051 BTC, its weakest positive reading in three months. Holders are still adding, but barely.
Bitcoin Price Levels That Decide the Signal
A daily close above $83,325 is the first step. Reclaiming $88,086 could draw holders back. A drop under $80,383 would break the higher low and cancel the divergence, putting $75,041 back in play.
Analysts View
The divergence says the uptrend still has room, but holders and funds are both quiet. A daily close above $88,086 could bring both back, while losing $80,383 would expose $75,041.