Bitcoin price is stable above $85,000, BitPay Supports SegWit
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The Bitcoin price has recovered and is currently changing hands above $85,000. While this is a reprieve, news around Bitcoin adoption dominates.
3 years later, BitPay supports SegWit
The main highlight in the last 24 hours is BitPay’s decision to support Segregated Witness (SegWit).
Of note, the payment processor has been against this controversial update. SegWit was one of Bitcoin’s developers attempt to scale the network without a Layer-2 option.
Though implemented, the follow-through, SegWit 2X—an improvement that would have increased Bitcoin’s block size to 2 MB, was rejected. Unsatisfied, proponents including Roger Ver, forked the Bitcoin source code creating Bitcoin Cash (BCH).
In a blog post, BitPay said SegWit is now available as an optional feature in their Bitcoin wallets and invoice payments. However, as they roll out the feature, it will be made default by the end of the year.
SegWit Pros and Cons
SegWit is an improvement that increased block space without increasing block size, thereby keeping the Bitcoin chain size manageable. The argument was that an increase in block size would have exponentially increased the Bitcoin blockchain size limiting its node distribution.
With SegWit, the protocol moves witness data of each transaction towards the end. Some critics claim that shifting the position of witness data and simultaneously removing them when communicating with deflecting nodes, the overall network security is compromised. This is because, in their preview, down the line, there would be verification issues which may then affect security.
Still, SegWit is welcomed because it fixes the so-called malleability bug, and simplifies the operation of Layer-2 options like the Lightning Network.
Bitcoin price analysis
The Bitcoin price is, at the time of writing, trading at $85,229. It is up 1.19% on the last week, winning against ETH.
From the daily chart, the BTC price seems to be in range mode. Bound within a $5,000 range with immediate support at around $82,653, bulls are trending inside a descending channel. The 20-day moving average (the middle BB), is the immediate flexible support level.
Although buyers retain longer-term potential, particularly if Bitcoin stabilizes above $87,000, sellers maintain the upper hand for today.
Notably, the double bar bull reversal pattern of September 18, 2026, is valid following its confirmation on September 21, 2026. Then, the bulls broke above the one-month resistance trend line. Subsequent attempts by bulls have been successful as prices are now trending above $85,000.
A break above the $5,000 range and $87,500 could pump BTC back to $100,000. On the flip side, steep losses below $80,000 may spark a sell-off that will see the Bitcoin price falter back to $62,500—or worse.
Disclaimer: This is not investment advice. Opinions expressed here are those of the author and not the view of the publication.
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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh
Aamir is a tech journalist with nearly six years of experience in the crypto and tech industries. He graduated from MAJ University with an MBA in Finance and Marketing. He now works with Cryptopolitan, where he reports on the latest developments in the cryptocurrency markets and price prediictions.
