Bitcoin long-term resistance in focus as analysis sees selling risk above $85K

Bitcoin (BTC) faces resistance between $84,000 and $85,000 as analysis points to coins largely linked to a single large holder.

Key points:

• Bitcoin faces resistance around $85,000, where 4.3% of the BTC supply last moved onchain.
• Glassnode analysis links the onchain cost basis of 864,520 BTC to Bitcoin’s difficulty sustaining daily closes above $85,000.
• Long-term holders own a combined four million coins with a cost basis between $85,000 and $118,000.

Glassnode ties $85K resistance to large-holder cost basis

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.