Bitcoin long-term resistance in focus as analysis sees selling risk above $85K
BTC price analysis from Glassnode drew attention to $85,000 as the lower boundary of a cost-basis zone for long-term holders.
BTC price analysis from Glassnode drew attention to $85,000 as the lower boundary of a cost-basis zone for long-term holders.
Bitcoin (BTC) faces resistance between $84,000 and $85,000 as analysis points to coins largely linked to a single large holder.
In 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.
“It held as support in December, when price bounced off it on December 1 and December 18. It gave way on January 31, when a push back up to $84K failed, and Bitcoin fell about 20% over the following days,” Glassnode commented.