Bitcoin is attempting to stabilize after defending the $80K demand zone, currently trading around $82.8K. The asset remains below the $88K resistance area that rejected its recent advance, leaving the market positioned between continued recovery and a deeper correction.
On the daily timeframe, BTC continues to trade within an ascending channel that has guided the recovery from late-June lows near $58K. The $88K region marks a major supply zone where sellers have defended against advances in late September and early October. Following rejection from this zone, the price has retreated toward the channel's midpoint, currently converging with the $80K area.
Buyers have defended recent lows at the $80K level. Holding above this region would support another attempt toward the $85K supply boundary, with a decisive breakout required to open the path toward the $90K region. On the downside, the $77K order block represents nearby support that formed the base of the late-September breakout.
The 4-hour chart shows Bitcoin has formed a series of lower highs since the early October rejection, with rebounds stalling near $84K. The price remains within a short-term ascending channel, and every decline since early October has been absorbed by the $80K demand zone, which now overlaps with the channel's rising lower boundary. Buyers would need to clear the $84K level to end the current sequence of lower highs.
On-Chain Indicators
The Adjusted Spent Output Profit Ratio (aSOPR) measures whether coins moved on-chain are being spent at a profit or loss. Readings above 1 indicate profits on average, while readings below 1 suggest losses. The metric dropped below 1 in early 2026, reaching approximately 0.98 in February during BTC's slide toward $60K. It has climbed steadily alongside the price since July.
The 30-day exponential moving average peaked near 1.013 in early October and has begun to turn lower, indicating that profit realization is easing as the price retreats from resistance. Current readings remain well below the 1.05–1.08 peaks recorded during the 2024 and 2025 rallies, suggesting that profit-taking is still moderate rather than euphoric.
