Bitcoin Short-Term Selling Pressure Cools as Profitability Drops

Short-term holders—those who have owned Bitcoin for under 155 days—historically react sharply to price fluctuations. When their holdings reach peak profitability, they frequently trigger sell-offs to lock in gains. By October 21, realized profit-taking had halved compared to the levels seen during September’s highs. This cooling period provides a more favorable entry point for investors betting on a continued uptrend.

Despite the reduction in selling, Bitcoin faces significant technical hurdles. Glassnode reports a dense resistance zone between $85,000 and $87,500, where substantial sell orders and acquisition clusters from investors who entered the market six to twelve months ago are concentrated. Further complicating the outlook, US spot Bitcoin ETFs saw $773.5 million in combined outflows on October 22 and 23. Market participants are now bracing for the Federal Reserve’s interest rate decision on October 28, an event that will likely dictate the next phase of price volatility.