Glassnode warns of strong BTC resistance as 4.3% of supply last moved near $85,000

Bitcoin faces a significant resistance zone between $84,000 and $85,000, following a recent analysis linking coin movements to a single large holder. According to blockchain analytics firm Glassnode, 4.3% of the total BTC supply, representing 864,520 BTC, was last transacted onchain near this price range. While such self-transfers typically do not impact market prices, Glassnode highlighted that the $84,000-$85,000 range has repeatedly acted as both a support and resistance area over the past eleven months. For example, in December, Bitcoin rebounded from this level twice before failing to hold above it at the end of January, which led to a swift decline of roughly 20% in the following days.

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