Bitcoin swept to $80K and bids refilled as overhead supply built

Bitcoin was swept down to about $80,000 on October 15, then found buyers quickly at a level that sits just under the average cost basis of U.S. spot ETF holders and corporate treasuries, according to Glassnode’s week-on-chain report published October 21, 2026. The move matters because the same zone has now acted as both support and a test of demand, while heavier supply remains above the market. Glassnode said the deepest dip on October 15 reached an hourly close of $80.1K before the next hourly close recovered back above the U.S. spot ETF cost basis. The firm described that line as the average price the ETFs paid for the coins they hold.

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