Bitcoin has slipped back below the $84,000-$85,000 range that has capped upside four times this year, while its one-month realized volatility has dropped to approximately 25%, levels last seen in summer 2023. Glassnode data shows US spot Bitcoin ETF net inflows have cooled significantly, totaling just about $67 million over the past two weeks. Binance spot order book buy-side support has also shifted lower to the $78,000-$79,000 zone with roughly $42 million in depth. Realized losses during each pullback since August have continued to narrow, indicating reduced selling pressure. Glassnode characterizes the current market as a range-bound consolidation amid weak demand and limited supply-side stress. The firm identifies the Oct. 28 Federal Reserve rate decision as a potential catalyst for the next move. A daily close above $85,000 could signal the start of a further rally, while a break below the active investor average cost at approximately $77,900 would put short-term holder cost basis near $75,800 in focus.