Bitcoin price stalls near $88K as selling pressure slows

Bitcoin investors who bought in one to two years ago finally got the exit they were waiting for. As the price climbed toward $88,000, that group sold heavily, and the rally ran out of road. Who sold, and where The selling came mostly from long-term holders, the patient cohort that usually sits tight through volatility. On-chain data from Glassnode showed this group taking profits as prices pushed higher. Many of these holders bought during the 2025 rally, mainly when Bitcoin traded between $89,000 and $97,000. In October 2026, long-term holders recorded their heaviest daily selling volumes of the year as Bitcoin neared resistance around $85,000. That ceiling showed up between $85,000 and $87,000. Heavy sell walls on Binance capped the price, and those walls are essentially stacks of limit orders waiting to unload coins at set levels. Spot Bitcoin ETFs offered no rescue. Flows were mixed, and the funds could not fully soak up the supply hitting the market. On October 8, 2026, Bitcoin ETFs saw $487 million in net redemptions in a single day. The leverage flush Bitcoin traded between $83,000 and $87,000 through September and early October 2026. Then it slipped below $85,000. The dip c...