4M Bitcoin Bought Above $85K Could Cap Recovery: Glassnode

Bitcoin's long-term holders are sitting on losses on about 4 million BTC bought between $85,000 and $118,000, and many may sell if the price climbs back toward that level, according to a note from on-chain analytics firm Glassnode. Glassnode, which defines long-term holders as those holding coins for more than 155 days, said most of that block was bought in 2025.

More than half of all long-term holder coins were bought above the current price, according to the note, published Wednesday ahead of the Federal Reserve's rate decision. $85K keeps turning $BTC back. Since January, Bitcoin has closed above it on only five days, never more than three in a row. It's a truly tough level to break.