COINTELEGRAPH · 2026-10-29 10:48 UTC

Bitcoin long-term resistance in focus as analysis sees selling risk above $85K

Bitcoin faces resistance at $84,000-$85,000 where 4.3% of BTC supply (864,520 coins) last moved onchain, linked to a single large holder's self-transfers. Long-term holders own 4 million BTC with cost basis between $85,000-$118,000, mostly acquired in 2025, creating potential sell-side pressure if price recovers to that level. Bitcoin has only recorded five daily closes above the $85,000 band in 11 months, with price upside momentum repeatedly fading near this resistance.

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