Bitcoin must reclaim $85K to overcome long-term holder selling, Glassnode says

Long-term holders' selling pressure could cap Bitcoin's rally even as short-term buyers provide support below $80,000. Bitcoin faces significant resistance around $85,000 as long-term holders controlling approximately 4 million BTC acquired at higher prices could sell into a recovery, according to blockchain analytics firm Glassnode. In its weekly onchain report, published Wednesday, Glassnode warned that a substantial concentration of Bitcoin purchased between $85,000 and $118,000 could limit further gains as investors seek to recover their initial investments. Long-term holders, defined as investors who have held Bitcoin for more than 155 days, accumulated much of this supply during 2025. More than half of the coins held by this group were acquired above Bitcoin’s current market price, according to the report. The $84,000 to $85,000 range has repeatedly rejected Bitcoin’s recovery attempts this year, with the cryptocurrency closing above the level on only five days since January. Bitcoin briefly climbed to $87,100 in September but failed to sustain the move, leaving the resistance zone intact. Glassnode said a series of daily closes above $85,000 would be necessary to establish t...