Key points: In the latest edition of its regular newsletter, The Week Onchain, crypto analytics platform Glassnode flagged another resistance hurdle for BTC price action in the mid-$80,000 range.
On Nov. 22, 2025, a significant portion of the total BTC supply moved onchain
At the time of the transactions, BTC/USD traded between $84,000 and $85,000. The coins that last moved at that price make up 4.3% of the total BTC supply, or 864,520 BTC. The analysis links the majority of this Bitcoin to a single large holder, who was moving funds among multiple wallets.
Although self-transfers generally do not affect price, Glassnode noted that Bitcoin has respected the $84,000-$85,000 range as both support and resistance over the past 11 months. “It held as support in December, when price bounced off it on December 1 and December 18. It gave way on January 31, when a push back up to $84K failed, and Bitcoin fell about 20% over the following days,” Glassnode commented. In May, September and October, BTC price upside momentum faded near the same level, with a high of $87,400.