- BTC showed visible buying pressure over the last 48 hours that sellers absorbed, pushing it toward $80K.
- Pac-Man effect saw sellers absorb aggressive BTC buying pressure, preventing prices from rising.
- The real question now is how much buying pressure does it take before sellers finally run out of liquidity.
Bitcoin (BTC) has struggled to sustain upward momentum despite aggressive buying over the past 48 hours that sellers have absorbed pushing prices toward the $80,000 zone amid ongoing resistance.
The pattern, described as the “Pac-Man effect,” suggests that sellers may be using bullish buying pressure to offload positions, raising concerns about a potential bull trap. However, the key question for crypto traders is how much buying pressure does it take before sellers finally run out of liquidity.
Bitcoin Buying Pressure Surges, but BTC Price Struggles Near $80K
Bitcoin order flow data now paints a fairly clear picture of a conflict. Over the past 48 hours, there has been aggressive buying, as large trades and whale activities have repeatedly hit the market, but BTC price has failed to sustain higher levels. Bitcoin failed to break higher and was driven towards the $80,000 zone over the weekend before recovering slightly into the low-to-mid $82,000s on October 19.
Source: CoinEdition
At press time, BTC was trading at $82,246.83, after recording a high of $82,246.83 and a low of $80,671.58. This is a pattern that indicates there is demand, but is not accompanied by significant upside moves as the market is just absorbing the buying rather than responding with a sharp break higher.
Bitcoin’s Pac-Man Effect: Why Sellers Keep Absorbing Aggressive BTC Buying
Bitcoin is under sustained selling pressure despite the robust buying activity. This pattern, sometimes called the “Pac-Man effect,” occurs when large sellers continuously absorb incoming buy orders, preventing the price from rising. In other words, there is a rise in the number of buyers but sellers are providing sufficient amounts of Bitcoin to accommodate the demand.
Meanwhile, this behavior is visible in the recent whale and large-trade charts. There are large buy orders but not much price action afterwards and sometimes even weaker price action after the orders are placed. Sellers seem to be patient and well-positioned to satisfy the demand.
According to CoinGlass data, the total liquidation volume for Bitcoin futures over the past 24 hours was roughly $63.8 million, with $32.9 million of long positions, roughly 56.3%, and $30.9 million of short positions being closed. The largest single liquidation was an $11.7 million long position. Previous BTC price declines to the $80,000-$81,000 area also sparked heavier long liquidations as leveraged buyers were squeezed out.
Source: CoinGlass
Therefore, the trend indicates that buying activity alone is not sufficient to lift Bitcoin higher as sellers continue to absorb the demand. Unless BTC can sustain a move above resistance levels, selling pressure could continue to limit any recovery.
Bitcoin Price Outlook: Will BTC Face a Bull Trap or Break Out Above Resistance?
The more important question is whether this is a bull trap or seller exhaustion. Bullish traders who have bought Bitcoin on the visible demand may find themselves trapped if the asset fails to break and hold above the major resistance level around $83,000–$84,000. The continued absorption would leave them holding on to their positions in a market that refuses to trend higher, raising the probability of additional long liquidations on any pullback.
Alternatively, if sellers finish their available supply, the buying pressure being absorbed could trigger a breakout. When the overhead liquidity is low, even a light moderate buying pressure can push the price through resistance levels and cause short covering. Liquidation heatmaps already show that some clusters of shorts are above the current price, and a strong breakout to the upside would make those clusters fuel.
Traders should closely monitor for indicators that buying pressure is increasing, such as Bitcoin maintaining higher price levels, surpassing recent resistance, and a decrease in long liquidations during price rallies. Additionally, if selling pressure is slowing down, it may be a sign of buyers taking control. Until then, aggressive buying may continue to have limited impact on BTC’s price as sellers absorb demand.
Related: Bitcoin Price Stalls Below $80K as Profitable Holders Keep Selling
Related: Bitcoin Tests Crucial $80K-$81K Resistance: Will BTC Hit $100K or Fall to $70K?
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
