BTC's $50M bid wall pulled, price slides to $80,351

HuoXing Finance reported that on Oct. 8, as BTC pulled back, a $50 million buy wall that had been supporting the $81,000–$81,500 area was actively withdrawn as the market approached, with the bid later re-posted at a lower level. Two closely watched traders also took profits and pared long exposure, with one exiting the position entirely. That evening, BTC briefly dipped to $81,281—just $47 (about 0.058%) above a large bid at $81,234. The account did not wait for a fill, canceling the order roughly three minutes later and replacing it with a $47.43 million buy order at $77,888, a cut of about 4.1% (0xf517). With the $50 million wall removed, the near-term support it had provided disappeared. BTC then slipped below the original bid level and fell further to $80,351 the next morning, as the expected buying interest failed to show up where it had previously been concentrated. As noted earlier in the report, order-book support in the $81,000–$81,500 range was heavily dependent on that single order: "If this order is canceled and all other conditions remain unchanged, the net position in this range will shift from a net buy of $21.3 million to a net sell of approximately $28.7 million." On whale positioning, the account behind the wall has cycled through multiple opens and closes, ending with cumulative BTC net selling of about $5.98 million and estimated realized trading profit of roughly $166,000, and today...