Bitcoin price growth stalled near $88,000 as long-term investors, who acquired assets during the 2025 rally at prices between $89,000 and $97,000, began selling. In October 2026, these holders recorded their highest daily selling volumes of the year as the asset approached resistance levels between $85,000 and $87,000.
Market pressure was exacerbated by significant outflows from spot Bitcoin ETFs, which saw net redemptions of $487 million on October 8, 2026. Additionally, the market experienced a leverage flush, with over $2.4 billion in long positions liquidated during the early October pullback when prices fell below $85,000.
Support has emerged in the $81,000 to $82,000 range, where large buy orders have been placed since early October 2026. Analysts at QCP Capital project that Bitcoin will trade between $80,000 and $90,000 in the fourth quarter of 2026, noting that future price action depends on upcoming CPI data and institutional demand.
The current market structure shows that selling pressure is concentrated among early-cycle investors rather than representing a broad capitulation. While heavy sell walls on Binance previously capped price gains, current data indicates that downward pressure is beginning to fade near established support levels.
