Glassnode: short-term holders sold bitcoin into breakout

1139 ET - Recent buyers of Bitcoin used the cryptocurrency's latest price run-up to sell and lock in quick profits, according to an analysis by Glassnode. On Sunday, 86% of bitcoin that moved onto exchanges, a move that typically comes when a crypto asset will be sold, came from short-term holders, the analysts say. That's the highest level in more than a year, they say. If this kind of quick-profit selling continues, it will create a wall of supply at the $85,000 level that will be hard to push past, the analysts say. If Bitcoin slips into the $81,700 to $83,300 range, traders that made leveraged bets on the price to go up will have to sell to cover their losses, pushing the price even lower, the analysts say. (dean.seal@wsj.com) (END) Dow Jones Newswires October 07, 2026 11:40 ET (15:40 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.