CryptoSlate: Bitcoin's $80,000 buy wall may hide a liquidation trap, risking a drop to $78,000
CryptoSlate analysis suggests that while Bitcoin has a significant buy wall around $80,000, it could be a liquidation trap. This comes as September's CPI data exceeded forecasts, with headline inflation at 3.7% year-over-year (vs 3.6% expected) and core inflation at 2.6% (vs 2.5% expected). Glassnode's on-chain data indicates a calmer holder base despite price action, but a sustained break below $80,000 could trigger long liquidations, potentially pushing prices towards $78,000, which is Bitcoin's True Market Mean (average cost basis for economically active investors).
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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