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 basisIn the latest edition of its regular newsletter, The Week Onchain, crypto analytics platform Glassnode flagged another resistance hurdle for BTC price action in the mid-$80,000 range.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 a...