News · Bitcoin
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.
Key point 1 of 3
01
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.
Key point 2 of 3
02
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.
Key point 3 of 3
03
Long-term holders hold 4 million BTC acquired between $85,000 and $118,000, with their spent output profit ratio dipping to 0.99.
Context
Bitcoin has repeatedly failed to maintain traction above the mid-$80,000 range since early 2026, when a breakdown from the $84,000 support level on Jan.
Why it matters
Traders and spot market participants face heavy overhead supply, as underwater long-term investors holding 4 million BTC may liquidate near entry prices to limit drawdowns.
What to watch
Monitor daily closes relative to $85,000 and tracking of the LTH-SOPR metric to see if it climbs back above 1.0, signaling profitable distribution.
Sources
Built from 1 primary source, machine-checked before publication.
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