Bitcoin Price Recovery May Stall as 4M BTC Bought Above $85K Forms Resistance: Glassnode

Bitcoin's recovery could face a major hurdle as on-chain data from Glassnode reveals that approximately 4 million BTC were acquired at prices above $85,000. This massive supply cluster, now potentially underwater, may act as strong resistance if the market attempts to rally. The analysis comes just a day after the U.S. Federal Reserve decided to keep interest rates unchanged, a move that added to market uncertainty. Bitcoin is currently trading near the average cost basis of U.S. spot ETF holders, a level that could trigger selling pressure from investors looking to break even. The $85K threshold is now a critical battleground: a decisive move above it could reignite bullish momentum, but failure to reclaim it might lead to prolonged consolidation or further downside. With ETF investors' average entry price acting as a psychological barrier, the coming weeks will test whether demand can absorb the potential supply overhang. For traders, the key question is whether new capital will step in to push prices through this wall of resistance, or if the market needs more time to digest the heavy accumulation above $85,000.