Bitcoin Price Erases Two-Day Gains After $85,000 Rejection: Will it Fall to $80,000?

The Bitcoin price has erased its two-day gains after a rejection near $85,000. Bitcoin (BTC) slid about 4% to an intraday low of $81,652 on Bybit. On-chain data and price charts now point to $80,000 as the next key test. Absent buyers and fading momentum could make that level decisive. Bitcoin Treasuries Sit Near Breakeven but Stopped Buying Corporate Bitcoin treasuries hold BTC at an average cost basis of about $80,000, according to Glassnode. The price has closed above that level since September 18. However, treasury buying has not returned. Monthly net purchases have shrunk to a few thousand BTC, far below the 2025 peaks. Glassnode notes that buying in profit can feed on itself. Purchases lift the price, which lifts their shares and funds more purchases.

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