Bitcoin recently dipped below $80,000, triggering a wave of stop-loss liquidations. Analysts at 10x Research suggest this movement may be a false signal caused by low trading volumes over the weekend.
Data from CryptoQuant analyst Axel Adler Jr. indicates that the 30-day price range for Bitcoin has narrowed from 13% to 6%. The asset has remained in a compression zone between $80,000 and $86,000 for nine consecutive days.
On October 24, Bitcoin rebounded from the 365-day simple moving average (SMA 365) to close at $80,500, marking a new 30-day low. Experts note that volatility compression typically precedes a significant price impulse.
Analyst Darkfost reports that the aggregate demand for Bitcoin is currently negative at -19,000 BTC. This figure comprises -58,000 BTC on the spot market and +39,000 BTC in perpetual futures, indicating that futures demand no longer offsets weak spot activity.
Despite the negative demand metrics, selling pressure has eased. However, market participants remain cautious, as low trading volumes leave the price sensitive to even minor shifts in activity.
