Glassnode data shows long-term holders control supply between $83,000 and $86,000, creating resistance for BTC.
Bitcoin’s ability to sustain gains above $83,000 is under scrutiny as liquidity thickens in the $81,000-$86,000 range. Long-term holders, who have not sold since the drawdown, dominate supply in this zone, posing resistance to further upside.
Recent price action has seen BTC struggle to turn $80,000 into support, with multiple trend lines converging near the spot price. Glassnode highlights that new ask liquidity on exchanges may further pressure bulls if demand fails to absorb selling.
A break above $83,000 would test long-term holders’ resolve, as many could sell near breakeven. The concentration of supply in this range suggests a critical juncture for Bitcoin’s near-term trajectory.