Glassnode
Bitcoin ran 26% from its mid-August low on a record short flush, and real-money demand followed the move. The Week On-chain 34 report identifies $81K to $86K as the supply band separating this recovery from Bitcoin's January high.
Why it matters
The rebound combines a positioning impulse with a demand signal. The short flush created the acceleration, while real-money participation gave the move follow-through. That makes the range the key test for whether recovery momentum can extend.
Market impact
A move through the band would put the January high back in focus. Failure to absorb that supply would leave the recovery vulnerable to consolidation after its 26% advance. Continued real-money demand matters more than another burst of short covering.
Frequently asked questions
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How large was Bitcoin's rebound from its mid-August low?
Bitcoin rose 26% from its mid-August low.
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What sparked the first acceleration in the recovery?
A record short flush created the initial acceleration in Bitcoin's move, and real-money demand followed.
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What role did real-money demand play in the move?
Real-money participation gave the rebound follow-through after the short flush created the initial positioning impulse.
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What would show that recovery momentum is extending?
Sustained demand that absorbs supply in the $81K-$86K range would show whether the recovery can keep building.
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Why is Bitcoin's January high back in focus?
The $81K-$86K supply band separates the recovery from Bitcoin's January high, so a move through it would put that high back in focus.
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