Skip to content
$BTC$79,920−0.9%$ETH$2,318−0.8%$SOL$100.33−1.1%$XRP$1.29−2.1%$TON$1.22−0.9%MCap$2.65T−1.0%BTC.D60.4%Fear&Greed51 NeutralGas0.25 gwei·1 sat/vBNews mood13% bullish
Basis Desk

New: Basis Desk Verify for Chrome & Firefox — fact-check crypto news on any page, free.Get the extension →

Bitcoin · 1 min read

Glassnode Links Bitcoin $85,000 Resistance to 864,520 BTC Whale Cluster

Onchain supply data shows 4.3% of circulating Bitcoin last moved between $84,000 and $85,000, creating overhead resistance as long-term holders sit at an aggregate loss.

Editorial oversight: Julian Mercer, Chief Editor
Bearish
$BTC $79,920 −0.9%

At a glance

What happened
Glassnode reported that 864,520 BTC moved onchain between $84,000 and $85,000 on Nov. 22, 2025, creating strong overhead resistance.
Why it matters
The concentration creates persistent selling pressure from underwater long-term holders holding 4 million coins above current prices.
Who is affected
Bitcoin spot traders and long-term holders with acquisition prices between $85,000 and $118,000.
What's next
Bitcoin requires a sustained streak of daily closes above $85,000 to convert the zone back into support.
Primary source
cointelegraph.com: Bitcoin long-term resistance in focus as analysis sees selling risk above $85K

Key points

  • A total of 864,520 BTC (4.3% of supply) last moved onchain between $84,000 and $85,000 on Nov. 22, 2025, largely linked to a single whale.
  • Bitcoin has logged only five daily closes above the $85,000 threshold over an 11-month span, with none lasting more than three consecutive days.
  • Long-term holders hold 4 million BTC acquired between $85,000 and $118,000, with their spent output profit ratio dipping to 0.99.

Bitcoin ($BTC) faces persistent overhead friction between $84,000 and $85,000, driven by an onchain cluster of 864,520 $BTC tied primarily to a single entity, according to an analysis published in Glassnode's The Week Onchain newsletter 1. At the time of writing, $BTC traded near $80,157 amid a neutral broader sentiment profile.

The analytics firm found that 4.3% of the total circulating Bitcoin supply last shifted onchain on Nov. 22, 2025, while market prices traded within the $84,000 to $85,000 corridor 1. Glassnode attributed the bulk of this activity to a single large holder reallocating assets across internal wallet structures 1. Despite consisting mainly of internal rebalancing, the price zone has functioned as a critical market pivot for 11 months 1. The level provided price support on Dec. 1 and Dec. 18 before breaking down on Jan. 31, which catalyzed an approximate 20% drawdown in the subsequent days 1. Subsequent recovery attempts stalled near this band during May, September, and October, leaving the market with just five daily closes above the zone and no streak exceeding three consecutive sessions 1. A sustained sequence of daily closes above $85,000 would be required to flip the boundary back into support, Glassnode stated 1.

Long-Term Holders Face Supply Overhang

The resistance band coincides with broader breakeven pressure across seasoned market participants 1. Glassnode highlighted that long-term holders—wallets retaining coins for at least 155 days without disposing of them—collectively control roughly 4 million $BTC acquired between $85,000 and $118,000, predominantly during 2025 1. More than half of that cohort's total balance was bought above prevailing market levels 1.

This dynamic creates sell-side friction as market rebounds allow underwater participants to exit near their original entry points 1. Underscoring that headwind, the long-term holder spent output profit ratio (LTH-SOPR) stands at 0.99 1. Readings below 1 indicate that spending from mature market participants is realizing aggregate capital losses 1. The dynamic mirrors earlier structural challenges identified when Bitcoin retreated after a run near $85,000, leaving market upside constrained by concentrated cost-basis hurdles 1.

Sources

  1. [1] Bitcoin long-term resistance in focus as analysis sees selling risk above $85K — cointelegraph.com, October 29, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

Community read
How do you read this story for the assets involved? One vote a day, anonymous.
Be the first to vote
Share X Telegram Bluesky Markdown Web Story

The Daily Brief, in your inbox at 07:00 ET

Five stories, the numbers that moved, what to watch. Three minutes. No hype, no advice, unsubscribe in one click.

Not financial advice. Basis Desk publishes information, not recommendations. Crypto assets are volatile and you can lose what you invest.