Glassnode: BTC sellers cut losses after dropping below $80,000, possibly forming a local low

Glassnode released data on social media indicating that BTC sellers have been continuously cutting losses below $80,000. Last week saw the longest duration of daily net realized losses since mid-August.

The concentrated loss periods in August and September both formed at local lows. If the price can stay above $75,000, it will once again align with this pattern.