According to Woofun AI, Bitcoin is facing increasingly severe pullback pressure. The core reason is that short-term traders did not achieve a sharp rise in profit margins to their 21-month peak. Julio Moreno, head of research at CryptoQuant, pointed out that although the overall market is still in a bullish cycle, a significant increase in profit settlement behavior poses a major downside risk.
According to data compiled by Woofun AI, as of September 29, 2026, the Bitcoin price was stable above the 365-day moving average, the bull market index recorded 90 points out of 100, and the fundamentals are still strong.
However, after hitting an 8-month high of $87,400, the price experienced selling pressure, and the short-term unrealized profit margin climbed to 33%, the highest since December 2024. On September 22, holders made a profit of 25,700 bitcoins, setting a 2026 single-day record, indicating that investors are using high levels to lock in profits.
The more critical variable is the overall cooling of the demand side. Explicit spot demand has declined by 170,000 BTC over the past 30 days, and buying is weak. Speculative demand for futures plummeted from 164,000 bitcoins on September 14 to 16,000 bitcoins on September 29, and the derivatives engine stalled.
Meanwhile, altcoin selling pressure was evident: 76,000 transactions flowed into exchanges in 7 days, reaching 51,000 addresses, the highest since October 17, 2025, and were widely distributed rather than concentrated.
If a pullback occurs, the market will face a triple line of defense test. The primary support is the 365-day moving average around $80,000; if it falls, the $71,000 corresponding to the 200-day moving average will become a second barrier; in the end, the bottom line falls at the actual average transaction price of around $67,000 on the trader's chain.