# Bitcoin Holds Above $80,000 as Profit-Taking Tests Market Support By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/31406 Published: 2026-10-13T18:03:11.000Z Updated: 2026-10-13T18:03:11.000Z Section: Investing > About 86% of Bitcoin sent to exchanges in early October came from profitable short-term holders, while large wallet transfers added to supply concerns. Bitcoin (BTC) remained above $80,000 for more than three weeks as of Oct. 13, while profit-taking by recent holders and repeated intraday tests kept the level central to the market’s near-term setup. Bitcoin closed the first week of October down more than 3%, then repeatedly moved lower intraday toward $80,000 during the following two weeks. A sustained break below the level could bring the short-term holder cost basis near $75,000 into focus. About 86% of Bitcoin deposited to exchanges in early October came from short-term holders whose coins were in profit. Exchange deposits can precede sales, but they do not establish that the coins were ultimately sold. The conditions follow [earlier signs of increased profit-taking among short-term holders](). That earlier pattern also pointed to deposits by recent holders rather than confirmed liquidations. Large wallet transfers have added to attention around potential supply, although blockchain movements alone do not establish selling or market impact. One wallet transferred 4,582 BTC, valued at about $377.58 million at the time, on Oct. 12, 2026, after receiving most of the coins in March 2020. The funds were distributed to five addresses, with no confirmation that they were sent to an exchange or sold. Another wallet moved 4,500 BTC after more than four years without a major transfer during the prior week. The transfer’s value was about $375.72 million. Bitcoin’s Spent Output Profit Ratio, or SOPR, measures whether coins moved on-chain are being spent above or below their acquisition cost. A reading above 1 indicates that transferred coins were spent at a profit. The supplied figures placed long-term holder SOPR at 1.25 on a weekly basis and 1.16 monthly, compared with a yearly average of 1.10. The market’s next key test is whether Bitcoin can continue holding the $80,000 area. A move below it would put the short-term holder cost basis near $75,000 in focus, while the available transfer data does not confirm that dormant-wallet activity represents completed selling. ## Links in this article - [earlier signs of increased profit-taking among short-term holders](https://www.tokenpost.com/news/investing/27929)