Bitcoin Whales Sell 30,000 BTC as $87K Rejection Puts $82.5K in Play

TLDR:

• Bitcoin whales sold over 30,000 BTC as price rejected $87,220 and retreated toward the $84,575 area.
• $82,500 is now the key support zone, with the lower Bollinger Band reinforcing the area near $82,362.
• CoinGlass shows liquidation clusters around $82,600-$82,800, alongside another concentration near $82,000.
• Glassnode puts 6–12 month buyers’ cost basis near $89,000, leaving overhead supply above any rebound.

Bitcoin’s rejection near $87,000 has turned attention toward $82,500 after large holders sold more than 30,000 BTC during the failed breakout. The asset traded near $84,575 on October 3 after reaching about $87,220 before reversing. The move placed price back inside a two-week channel.

Crypto analyst Ali Charts linked the rejection to two pressures. Price reached the channel’s upper boundary while whale holdings fell as large investors took profits. At roughly $84,000 per coin, the 30,000 BTC reduction represented about $2.52 billion. That selling shifted the next technical focus toward the channel floor.

30,000 BTC Whale Selling Puts $82.5K Support in Focus

Ali’s setup places the lower channel boundary near $82,500. However, the level alone does not confirm that buyers have regained control. The more important signal would be renewed whale accumulation after price reaches the area. Rising large-holder balances would show that distribution has begun reversing.

Other market data places nearby support around the same zone. A four-hour chart showed the lower Bollinger Band near $82,362. CoinGlass liquidation data also identified concentrations around $82,600 to $82,800, alongside another cluster near $82,000.

Those levels create a narrow support region rather than a single price point. Still, the buying setup remains conditional until whale balances begin increasing again. Together, those readings place market structure, liquidations, and whale behavior around the same downside area.

Bitcoin Rebound Faces $89K Cost-Basis Selling Pressure

Even if support holds, Bitcoin would face additional selling pressure above the recent rejection area. Glassnode reported that investors who bought near previous market tops are selling as price approaches their break-even levels.

Buyers from six to 12 months ago have an average cost basis near $89,000. Holders from one to two years ago average about $97,000. Both groups therefore remain underwater at current prices. Glassnode also said 2025 rally buyers are recording their highest average daily selling volume this year.

Meanwhile, buyers who entered during later market declines have not shown the same selling behavior. That leaves $87,000 as an important first hurdle. The $89,000 break-even zone sits only about 2.3% above that level.

Glassnode’s September 30 research showed long-term-holder realized profit nearly doubled during the week ending September 29. Their share of total realized profit rose from 34% to 55%, reinforcing evidence that established holders have been locking in gains.

The immediate BTC test is therefore broader than whether $82,500 holds. Confirmation requires support to remain intact while whale balances start rising again.

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