Glassnode: Bitcoin Capitulation Signals $80K Floor

Glassnode states bitcoin native sellers capitulated again yesterday. Every burst of loss selling aligned with local bottoms in early August, mid-August and mid-September. Profit taking slowed since the September high. Yesterday's selling just above $80k would mark the floor if the pattern holds.

Bitcoin trades at $82400 inside the Bollinger bands, with upper resistance at $84174 and lower support at $80745. The bearish structure keeps price below the EMA50 at $82868 while holding above the EMA200 at $82230. Neutral RSI at 48.76 combines with the MACD golden cross at -219.28 to favor a push toward upper band resistance before any retracement to the 200-EMA support.