Glassnode: 1.05 Million BTC Accumulated in the $83,000–$86,000 Range, Potentially a Key Market Resistance Level

Odaily reported that on-chain data analytics firm Glassnode stated that approximately 1.05 million BTC currently belong to long-term holders (LTH), with their acquisition costs concentrated in the $83,000 to $86,000 range. This marks the first significant cost-dense zone above the current spot price of around $79,000.

Glassnode pointed out that this group of long-term holders has almost entirely held through to the present without selling during previous market pullbacks. Therefore, the $83,000 to $86,000 range will serve as a key position to monitor market dynamics, with the crucial question being whether these long-term holders will choose to take profits or continue holding as prices recover toward their cost basis.

If substantial selling pressure emerges in this zone, it could limit Bitcoin's short-term rebound potential; conversely, if long-term holders maintain their patience, it could signal stronger upward momentum.