Whale-sized orders offer Bitcoin support level just below $80,000

Large spot-market orders from bitcoin whales were positioned to support the price just below $80,000 as bitcoin traded at $81,712.12 on October 23. The orders concentrated around $78,000 to $79,000, with about $58.8 million in available liquidity; one order on Binance was valued at $58 million and another at $77,500 was valued at $25 million. Trading volume was around $26 billion over 24 hours, while futures volume remained as much as 10 times spot volume. Bitcoin had failed to break above $85,000 and returned to range-bound trading, and the whale positioning reflected anticipation of another move lower.