Glassnode: 4 million Bitcoin bought above $85K may cap recovery

Long-term Bitcoin holders own approximately 4 million BTC purchased between $85,000 and $118,000, most acquired in 2025. Glassnode notes that over half of these coins were bought above the current price of around $81,400, and a price band between $84,000 and $85,000 has repeatedly turned Bitcoin back this year. With Bitcoin trading near $81,600 and U.S. spot Bitcoin ETF holders near break-even at an average cost of about $81,500, the $85,000 level remains a significant resistance point.