Bitcoin Faces a $85K Supply Wall as 4M BTC Holders Threaten Recovery: Glassnode

TL;DR: Long-term holders hold 4 million BTC acquired between $85,000 and $118,000, mostly accumulated during 2025. The asset trades around $81,400, sitting near the average purchase price of spot ETFs in the United States ($81,500). The Federal Reserve held its benchmark interest rate in the 3.75% to 4.00% target range following a 10-2 vote. A report by Glassnode indicates that Bitcoin faces a heavy concentration of overhead supply near $85,000 , where long-term investors are holding unrealized losses on approximately 4 million coins. This observation comes as the price of the benchmark cryptocurrency hovers around $81,400 on Thursday, October 29, following the interest rate pause enacted by the U.S. Federal Reserve. $85K keeps turning $BTC back.

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