Analyst: Bitcoin price shows hidden signs of upward movement, facing a 96% issue
2026-10-09 17:51:06
According to CoinMeta, as reported by BeInCrypto, the price of Bitcoin (BTC) is trading around $82,300, with a rise of about 28% over the past three months. Hidden momentum signals on the daily chart indicate that the upward trend may continue, but the buying volume from long-term holders has decreased by 96%. Between September 2 and October 8, Bitcoin formed a higher low. The Relative Strength Index (RSI) fell from around 65 to 47, showing a lower low, a combination known as a hidden bullish divergence, which indicates that the pullback did not break the upward trend. Despite increased selling pressure, the trading volume on October 8 was still about 18% lower than the peak on October 2. The Glassnode indicator, which measures changes in net positions of holders, showed that after reaching a peak of 25,734 on September 20, it dropped to 1,051 on October 8, the lowest positive value in three months. Analysts believe that if the daily closing price exceeds $83,325, that would be a first step, and a return to $88,086 could attract holders back in.
Source:BeInCrypto
This content is for market information only and does not constitute investment advice.
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