Bitcoin’s $80K Safety Net Held Once but Glassnode Says It Is Eroding
Big buyers caught bitcoin at $80,000 on Thursday, but Glassnode’s order book data shows the bids under that level are getting thinner. A Day on the Order Book Glassnode posted a heatmap of resting orders on the Binance BTC/USDT spot book from Oct. 15, and relayed the following message: The large bids that sat at […]
Glassnode's order book heatmap for Binance's BTC/USDT spot market shows that large resting bids around the $80,000 level are thinning out, even after buyers stepped in at that price on Thursday. The data suggests the support that held once may be eroding, leaving bitcoin more vulnerable to a deeper pullback if selling pressure continues. Traders watching the $80K floor should note that thinner liquidity below it can amplify downward moves.
