Bitcoin faces selling pressure above $85,000 as long-term holders sit at a loss
Onchain data shows 864,520 Bitcoin moved in the $84,000 to $85,000 range last November, creating heavy overhead resistance as long-term investors hold coins at an aggregate loss.
Key takeaways
- 1On Nov. 22, 2025, 864,520 Bitcoin representing 4.3 percent of the total supply moved onchain between $84,000 and $85,000.
- 2Long-term holders own roughly 4 million Bitcoin bought between $85,000 and $118,000.
- 3The spent output profit ratio for long-term holders stands at 0.99, indicating aggregate losses on moving supply.
- 4Bitcoin fell 1.5 percent in 24 hours to $80,261 on Thursday.
- 5CoinDesk reported $10 billion in Bitcoin options contracts approaching expiry.
Bitcoin faces selling pressure between $84,000 and $85,000 as long-term investors hold coins at an aggregate loss, according to onchain data from Glassnode. The digital asset traded at $80,261 on Thursday, reflecting a 1.5 percent drop over 24 hours, YourKhabri market data showed.
The concentration of supply traces back to Nov. 22, 2025, when 864,520 Bitcoin moved onchain while prices hovered between $84,000 and $85,000. That single-day movement accounted for 4.3 percent of the total Bitcoin supply. Cointelegraph reported that Glassnode linked the majority of those transfers to a single large holder shifting funds across multiple wallets.
Internal wallet transfers do not directly change market demand, but Bitcoin has repeatedly treated the $84,000 to $85,000 range as a major price level over the past 11 months. The range held as support when prices bounced off it on Dec. 1 and Dec. 18, 2025. It broke on Jan. 31, 2026, when an attempt to push back up to $84,000 failed and Bitcoin fell about 20 percent over the following days.
Rallies in May, September, and October 2026 lost momentum near the same level, despite reaching a peak of $87,400. Bitcoin has recorded five daily closes above $85,000 in the past 11 months, with no stretch lasting longer than three consecutive days. Glassnode said a run of daily closes above $85,000 would turn the band back into support.
The resistance involves a broader segment of Bitcoin investors. Glassnode defines long-term holders as entities holding coins without selling for at least 155 days. This group controls about 4 million Bitcoin last moved onchain between $85,000 and $118,000, mostly during 2025.
More than half of all long-term holder coins were bought above current prices, Glassnode said. The cohort's spent output profit ratio stands at 0.99, showing that long-term holders moving coins onchain are doing so at a loss. Glassnode said many of these holders may sell to recover their initial capital if prices return toward $85,000.
In derivatives markets, CoinDesk reported on Thursday that $10 billion in Bitcoin options contracts are nearing expiry as pricing metrics point to a market inflection point across risk assets.
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Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.