Bitcoins failed breakout reveals a dangerous mix of thin volume and easy profits
Bitcoin has fallen nearly 5% this week as weak trading volume and profit-taking blunt attempts to reclaim $85,000. Related Asset Bitcoin #1 BTC · $82,232.76 24-hour change: down 1.43% Loading price history… 24H Down 1.43% 7D Down 1.74% 30D Up 4.92% The largest cryptocurrency traded around $83,100 as of press time, extending a retreat that followed Sundays brief close above the key level. Bitcoin has since failed to sustain that breakout, slipping beneath newly placed sell orders before buyers around $85,000 also gave way. On-chain data suggests the pullback is unfolding against two related pressures: unusually weak participation and a large pool of recent buyers with profits available to realize. Combined Bitcoin trading across spot exchanges and US spot exchange-traded funds averaged about $6.8 billion a day over the seven days through Oct. 6, Glassnode said. That was lower than on 90% of trading days since January 2024. Related Company Glassnode On-chain analytics platform The weakness persisted even as Bitcoin tried to break resistance. Sundays close above $85,000 came on roughly half the trading volume of a typical Sunday, while no session since Sept. 22 has recorded normal spot volume for its respective day of the week. At the same time, sellers approaching the market have increasingly









