Bitcoin’s decline has accelerated into the $77K region after buyers lost the $80K support area. The price is now testing a major daily demand zone, while on-chain data shows it approaching the average cost basis of recent holders.

Bitcoin Price Analysis: The Daily Chart

On the daily timeframe, Bitcoin has decisively broken beneath the ascending channel’s midpoint. The sharp bearish move carried the price through $80K and into the highlighted $75K–$78K demand zone, with BTC currently trading around $77.7K.

This region supported September’s advance, making it an important test for the broader recovery. However, the latest candles show only limited stabilization following the selloff. Holding demand could produce a relief bounce toward $78K–$80K, but buyers would need to reclaim the broken midpoint around $81K to demonstrate a more meaningful improvement.

The bearish continuation scenario remains favored while the price stays beneath these lost levels. A sustained breakdown below $75K would expose the channel’s rising lower boundary around $72K–$73K. Conversely, a strong response from demand and recovery above $81K would weaken the immediate bearish structure.

[](https://cryptopotato.com/wp-content/uploads/2026/10/BTC-D-1-3-scaled.jpg)

BTC/USDT 4-Hour Chart

The 4-hour chart shows a sharp breakdown following another failed recovery beneath the broken ascending trendline. Bitcoin lost the $79.8K support boundary and quickly declined toward $76.3K before consolidating near $77.3K. The modest rebound suggests that buyers have slowed the decline without yet reversing momentum.

The marked $74.9K–$76.3K demand zone is the next immediate defense. A return beneath $76.3K would expose more of this region, while sustained acceptance below $74.9K would strengthen the case for further downside.

On the upside, the recent consolidation around $78K–$78.3K presents the first recovery hurdle. Beyond that, the highlighted $79.8K–$81.9K zone now represents potential overhead supply. Until Bitcoin reclaims this area, rebounds remain vulnerable to forming another lower high within the ongoing correction.

[](https://cryptopotato.com/wp-content/uploads/2026/10/BTC-4H-1-3-scaled.jpg)

Sentiment Analysis

The Realized Price UTXO Age Bands chart tracks the average on-chain cost basis of coins grouped by age. The latest decline has brought Bitcoin near the realized price of the 1-to-3-month cohort, which has risen sharply toward approximately $76K–$76.5K.

With the market price around $77.3K, these recent holders are approaching aggregate breakeven. This creates an important confluence with the technical demand zone around $75K–$78K. A successful defense could help stabilize sentiment among this cohort, while a sustained move below its cost basis would place it in aggregate unrealized loss and could increase pressure on more sensitive holders.

Meanwhile, the 6-to-12-month cohort’s realized price has declined toward $84K–$85K and remains above spot. This region could become an additional recovery hurdle if holders use a return toward breakeven to reduce exposure.

For now, the approaching $76K–$76.5K cost basis is the more immediate reference point. Its interaction with price could help distinguish a temporary correction into demand from a deeper deterioration, although realized price alone does not guarantee support.

[](https://cryptopotato.com/wp-content/uploads/2026/10/Bitcoin-Realized-Price-UTXO-Age-Bands-3-scaled.jpg)