Bitcoin reached $80,402 on September 20, a 25.6% gain over ninety days, driven by buyers consistently raising support from the bottom of $60,000 in June to above $77,000 by August. Supply in profit climbed from approximately 45% to 71%, though still below the 75–90% zone linked with heavier distribution in past cycles. The Korea Premium Index turned negative to -1.46%, signaling weaker South Korean demand near the $80,000 level. This divergence introduces a new source of pressure beneath the advance.
Bitcoin‘s rally to $80,000 represents an upward trend rather than a short-term breakout. Since mid-June, buyers have consistently increased the market’s floor with each downward swing, moving support from the bottom of $60,000 to above $77,000 by August.
Sellers attempted to push prices into the $75,000–$77,000 zone multiple times, but buyers absorbed the selling pressure at each attempt. This response has gradually shifted support higher, reducing reliance on the earlier $60,000–$65,000 range.
Bitcoin peaked at $80,402 on the 20th of September, approximately 25.6% higher than ninety days prior. The percentage of supply in profit increased from roughly 45% to 71% since the June lows.
Twenty-nine percent of supply remains underwater, limiting the potential for large-scale immediate profit-taking. The 71% reading falls short of the 75–90% zone previously linked with heavier distribution in past cycles.
The Korea Premium Index moved from positive territory earlier in September to -1.46%, signaling that South Korean exchanges are pricing Bitcoin lower than foreign markets. This weakening domestic demand adds pressure beneath the rally, as the premium’s decline followed months of readings mostly below zero after June.
This divergence could limit upside momentum if exchange inflows continue rising and global demand fails to compensate.
