TLDR:
- Bitcoin price fell toward $80,897 after rejection at $86,500, placing the large $81,000 buy-order cluster under its first major test.
- CryptoQuant reported no extreme miner outflows since August 21, when BTC reached $76,000 and miners moved into a fairly paid regime.
- Network hashrate recovered from 899 EH/s to 962 EH/s, while daily miner revenue rose 78% from $27 million to $48 million.
- Large miner balances remain near 51,000 BTC, so a sustained increase would offer firmer evidence that operators have shifted to holding.
Bitcoin price slipped toward $81,000 on Thursday after sellers rejected a move near $86,500. Glassnode said several large buy orders now sit below the market, with the biggest cluster near $81,000. Those bids could absorb part of any further decline. Meanwhile, CryptoQuant reported that Bitcoin miners have stopped aggressive selling as operating conditions improve.
Network hashrate, daily revenue, and transaction fees have all recovered from their 2026 lows. The shift removes a steady source of supply from the market. However, the Bitcoin price still faces a near-term test. Traders are watching whether the $81,000 orders can hold during renewed volatility.
Bitcoin Price Approaches $81K Buy Wall After Rejection
Glassnode’s order-book view showed Bitcoin moving toward a dense area of bids after failing at $86,500. The largest visible order sat near $81,000, close to the quoted Bitcoin price of $80,897. Other orders were spread below that level, creating several potential layers of demand.
Buy orders can slow declines when sellers meet available demand. They do not guarantee a rebound because traders may cancel or move orders before execution. The $81,000 cluster therefore marks immediate BTC support, while the rejected $86,500 area remains the nearest clear barrier for buyers.
The wider price recovery remains substantial despite Thursday’s retreat. CryptoQuant said Bitcoin rose about 45% from its July low near $58,000 to above $83,000 earlier on October 8. The later decline toward $80,897 shows that the Bitcoin price has given back part of that advance.
Market depth now offers the first test of whether buyers will defend the recovery. A durable response near $81,000 could keep BTC support intact. A weak response would expose lower orders. It would show that reduced miner supply alone cannot offset broader selling across the market.
Miner Revenue Recovers as Selling Pressure Starts to Ease
CryptoQuant’s report showed the network hashrate climbing from 899 exahashes per second on July 31 to 962 exahashes per second. Its drawdown from the prior peak narrowed from 18% on July 28 to 13%. The recovery suggests more computing capacity has returned after the summer contraction.
Better economics drove that recovery. Daily miner revenue, including block subsidies and fees, increased from $27 million in July to $48 million. The 78% rise gave Bitcoin miners more room to cover power and equipment costs. It followed the Bitcoin price recovery from its yearly low.
Transaction fees also improved, although they remain a small share of miner income. The seven-day average rose from $195,000 to $275,000. The increase supplemented the block subsidy. It helped pull miners from an “extremely underpaid” regime into a “fairly paid” one on August 21.
Extreme outflows have not appeared since that date, when Bitcoin reached $76,000. Satoshi-era miners moved about 600 BTC during September, compared with roughly 2,000 BTC in January. The smaller transfer supports the view that Bitcoin miners have reduced one recurring source of market supply.
Large miner wallets tell a more cautious story. Addresses holding 100 to 1,000 BTC have maintained about 51,000 BTC since early September. Their combined balance had fallen 20% from 64,000 BTC since December 2025, so stabilization does not yet prove broad accumulation.
A sustained rise above 51,000 BTC would confirm that large operators have become holders. Until then, easing outflows reduce pressure as the Bitcoin price tests nearby BTC support.