Bitcoin Buy Wall Near $81,000 Is Pulled and Reposted Lower

Bitcoin’s roughly $50 million buy order near $81,000 was canceled after the market approached it on Oct. 8, removing a key source of bid support before the price later fell below that level.

Bitcoin dropped to $81,281, only $47, or 0.058%, above the account’s $81,234 order. About three minutes later, the account canceled the full order and reposted a bid worth approximately $47.43 million at $77,888, moving its targeted entry price 4.1% lower.

Bitcoin subsequently broke below the original order level and fell to $80,351 early Oct. 9. The order did not provide support at the original level.

The $81,000-$81,500 range had shown a net buying advantage of about $21.3 million while the order remained in place. After its removal, that balance shifted to roughly $28.7 million in net selling pressure.

The account made multiple rounds of opening and closing positions, recording about $5.98 million worth of cumulative net Bitcoin sales and approximately $166,000 in trading profits. Two previously tracked major participants also reduced profitable long positions, with one closing the position entirely.

The move came as Bitcoin tested the previously watched $81,000 support area.