Bitcoin ‘top buyers’ halt BTC price upside with $87.7K now key: Glassnode

Bitcoin (BTC) investors sitting on unrealized losses are capping price gains at $87,700, while ETF inflows strengthen support at $80,000, analysis reveals.Key points:Bitcoin investors who bought BTC in the latter stages of 2025 have an aggregate cost basis of around $87,700, which now functions as resistance per Glassnode analysis.The area immediately above $87,000 hosts several resistance levels including the 2026 open at $87,490 and the 20-month moving average at $87,165.Bitcoin price support at $80,000 strengthens as bid liquidity focuses on this psychological level.Bitcoin 2025 buyers add to $87,000 resistance zoneNew research from onchain analytics platform Glassnode reveals that the breakeven point for a cohort of new Bitcoin holders is currently acting as resistance.Since the start of the year, two groups of holders have kept BTC/USD from moving higher once it challenges their acquisition cost basis.In November 2025, price lost the cost basis of investors with entries between six and 12 months prior, which sat at $94,000 at the time. When price attempted to break above the trendline at $97,100 in January 2026, it became resistance, triggering a rejection and sending price lo...