Bitcoin’s loss-selling spike near $80K may mark a local bottom, Glassnode says

On-chain data shows holders capitulating near $80,000, a pattern that preceded local bottoms in August and September Bitcoin holders hit the sell button hard as the price slid toward $80,000. According to Glassnode, that kind of capitulation has recently been a decent sign that the worst is over, at least for now. The on-chain analytics firm said on October 16, 2026 that the latest wave of loss-selling could signal a local bottom if past patterns repeat. The loss-selling episode played out on October 15, 2026, as Bitcoin dipped near the $80,000 mark. Glassnode framed the activity as potential capitulation, the moment when holders throw in the towel and sell below what they paid. The firm pointed to similar episodes in early and mid-August and again in September 2026.

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