Bitcoin long-term resistance in focus as analysis sees selling risk above $85K
Summary
Glassnode identifies $84,000–$85,000 as a key Bitcoin resistance zone. About 864,520 BTC, or 4.3% of supply, last moved onchain in that range, much of it attributed to one large holder transferring coins between wallets. BTC has repeatedly struggled around the band, with only five daily closes above it. Glassnode says sustained closes above $85,000 could restore the zone as support. Separately, long-term holders own roughly 4 million BTC last moved at $85,000–$118,000; some may sell if prices recover toward their cost basis. Their SOPR is 0.99, indicating coins are moving at an aggregate loss.
