Bitcoin has lost its gains from the past two days following a rejection near $85,000. The asset fell approximately 4% to an intraday low of $81,652 on the Bybit exchange.
Corporate treasuries currently hold Bitcoin at an average cost basis of about $80,000. While these holdings remain in profit, monthly net purchases have significantly declined compared to 2025 peaks.
Data from Glassnode indicates that the realized price for short-term holders was $74,850 as of October 21. With the current price near $82,000, these investors maintain a profit of roughly 9%.
Technical indicators show Bitcoin testing its 50-day moving average at $81,835. The asset has also dropped below the 0.618 Fibonacci level of $82,614, with a critical support cluster forming near $81,500.
Market analysts note that exchange stablecoin reserves have hit a one-year low, potentially limiting immediate buying power. A failure to hold the $81,500 level could lead to a test of the $80,000 support zone.
