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Bitcoin (BTC) sellers booked their longest run of daily losses since mid-August last week,&nbsp;<a href="https://x.com/glassnode/status/2117252467947950109" rel="noopener noreferrer nofollow">Glassnode said on Monday, November 2</a>, as Strategy and Strive added 935 BTC between them, though Strategy spent three times as much buying back its own preferred stock.
<a rel="noopener noreferrer nofollow" href="https://x.com/saylor/status/2117241559267836333">Strategy bought 811 BTC for $65.5 million</a>, at an average of $80,846, taking its stash to 849,327 BTC. The same filing shows $208.2 million going into STRC, the preferred stock Strategy sells to fund its purchases, which has been trading just under its $100 face value.
<a rel="noopener noreferrer nofollow" href="https://x.com/colemacro/status/2117238343775969376">Strive bought 124 BTC for $10 million</a>&nbsp;at $80,526 each, chief executive Matt Cole posted, bringing it to 43,124 BTC. For the first time, part of it was paid for by selling SATS, Strive’s own preferred stock.
Both companies bought above today’s price. Bitcoin trades at $77,948, below the $80,000 line where Glassnode says sellers have been accepting losses all week.
In August and September, the same kind of selling marked the bottom. So are sellers close to done again, or is the treasury buying too small to matter?
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 bitcoin:native sellers have been taking losses below $80k. Last week brought the longest run of daily net realized losses since mid-August. The August and September loss clusters both formed at the local lows. A hold above $75k would fit that pattern. <a href="https://t.co/DCjbNfhoT7" rel="noopener noreferrer nofollow">pic.twitter.com/DCjbNfhoT7</a>— glassnode (@glassnode) <a href="https://x.com/glassnode/status/2117252467947950109?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 2, 2026</a>
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<h2 class="wp-block-heading" id="bitcoin-sellers-are-taking-losses-what-does-glassnode-see">Bitcoin Sellers Are Taking Losses: What Does Glassnode See?</h2>
A pattern that has twice marked a low. Glassnode tracks realized profit and loss, the gain or loss on each coin when it moves, against the price it last moved at. Since the October 29 Binance hack sent BTC under $80,000, the losses have outweighed the profits almost every day.
The firm’s chart, titled “Profit Taking Is Slowing Down,” marks the earlier loss clusters:
<ul>
 <li>Mid-August:&nbsp;losses piled up around $63,000. BTC bottomed at $62,535 on August 14 and closed at $78,338 a week later, up 25%</li>
 <li>Mid-September:&nbsp;a smaller cluster near $76,000. It bottomed at $74,968 on September 15 and hit $87,396 six days later</li>
 <li>Last week:&nbsp;the longest run since August, with the low at $76,326 on October 30</li>
</ul>
The logic is simple. Sellers who accept a loss are usually the ones who bought high and gave up, and once they are out, there are fewer coins left to dump.
“A hold above $75k would fit that pattern,” Glassnode wrote.
Two clusters in three months is a short record, though, and the August one came at a much lower price. The pattern only holds if buyers show up, which brings in the companies.
<h2 class="wp-block-heading" id="why-is-strategy-spending-more-on-strc-than-on-bitcoin">Why Is Strategy Spending More on STRC Than on Bitcoin?</h2>
Its filings don’t say, but the price points to one reason. STRC is built to trade close to $100, and it closed Friday at $99.13.&nbsp;<a rel="noopener noreferrer nofollow" href="https://www.sec.gov/Archives/edgar/data/1050446/000119312526442707/mstr-20261102.htm">Strategy’s November 2 filing</a>&nbsp;shows it bought back 2.09 million shares for $208.2 million, about $99.52 each.
That has become the bigger job. Over the last five weekly filings, Strategy spent $974.9 million on STRC and $137.8 million on BTC.
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The money comes from different pots:
<ul>
 <li>BTC:&nbsp;paid for by selling 1.18 million MSTR shares for $164 million. $65.5 million went into BTC and $98.5 million into cash</li>
 <li>STRC buybacks:&nbsp;paid from that cash pile, which has shrunk from $640.5 million on October 11 to $132.7 million</li>
 <li>Dividends:&nbsp;a separate $4.79 billion reserve, which paid $43.4 million of preferred dividends last week</li>
</ul>
The board has topped up the buyback program by about $1 billion since mid-October, leaving $748.6 million to spend. Strategy now holds 849,327 BTC at an average cost of $75,451, about 3% below the current price.
<h2 class="wp-block-heading" id="how-is-strive-paying-for-more-btc">How Is Strive Paying for More BTC?</h2>
Mostly with cash it already had. Strive’s 124 BTC came a week after&nbsp;<a rel="noopener noreferrer nofollow" href="https://bitcointreasuries.net/news/strive-buys-6182-bitcoin-now-owns-43000-btc">it bought 6,182 BTC for $511.4 million</a>, so the pace has dropped sharply.
The new part is SATS, Strive’s preferred stock. Its sales program was used for the first time, and all of the week’s program proceeds came from it rather than from ASST common shares, which fell 28% between October 21 and 30.
Cole also put Strive’s amplification ratio at 62.7%. That is its debt and preferred stock against the value of its BTC, so the lower the price, the higher it climbs. At Friday’s $76,764, Strive’s 43,124 BTC were worth $3.31 billion.
Discover:&nbsp;<a rel="noopener noreferrer nofollow" href="https://tokenist.com/bitcoin-rebound-strategy-strc/">Bitcoin Rebound Faces a Test in Strategy’s STRC Funding</a>
<h2 class="wp-block-heading" id="bitcoin-price-analysis-can-btc-hold-75-000">Bitcoin Price Analysis: Can BTC Hold $75,000?</h2>
So far, it has held higher. BTC trades at $77,948 on Binance, down 0.5% on the day, and has stayed above its October 30 low of $76,326 for three days. That low sits right on the 200-day EMA (exponential moving average) at $76,510.
Both treasury companies bought above here, at $80,846 and $80,526, which is roughly where the 50-day EMA now caps the price at $80,287.
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August 5 to November 2, 2026: BTCUSDT 1D chart. Source: Binance.
Key levels:
<ul>
 <li>Resistance:&nbsp;$80,287 (50-day EMA), then $81,971, the October 29 high before the Binance hack</li>
 <li>Support:&nbsp;$76,510 to $76,326, the 200-day EMA and the post-hack low, then $74,968, the September 15 low just under Glassnode’s $75,000</li>
</ul>
<figure class="wp-block-table">
 <table class="has-fixed-layout">
 <tbody>
 <tr>
 <th>Scenario</th>
 <th>Condition</th>
 <th>Where it could lead</th>
 </tr>
 <tr>
 <td>Advance</td>
 <td>A daily close above $80,287</td>
 <td>$81,971, the pre-hack high</td>
 </tr>
 <tr>
 <td>Pause</td>
 <td>Holding between $76,326 and $80,287</td>
 <td>More range trade while sellers keep taking losses</td>
 </tr>
 <tr>
 <td>Retreat</td>
 <td>A daily close below $74,968</td>
 <td>$72,598, the 50% retracement of the summer rally</td>
 </tr>
 </tbody>
 </table>
</figure>
For Bitcoin, the test is the one Glassnode set: if $75,000 holds while the loss-takers finish, last week will look like August and September again.
The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/bitcoin-strategy-strive-glassnode-losses/">Bitcoin Sellers Take a Week of Losses Below $80,000 as Strategy and Strive Keep Buying: Will $75,000 Hold?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.

Bitcoin Sellers Take a Week of Losses Below $80,000 as Strategy and Strive Keep Buying: Will $75,000 Hold?

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