Glassnode said Bitcoin has struggled to sustain daily closes above $85,000, a level where 864,520 BTC, or 4.3% of its supply, last moved onchain. Those coins moved on November 22, 2025, when Bitcoin traded between $84,000 and $85,000. Glassnode linked most of them to one large holder moving funds between wallets, and noted that such self-transfers generally do not affect price.
Glassnode also reported that long-term holders own about 4 million BTC last moved between $85,000 and $118,000. It said some of those holders may sell if the price recovers toward $85,000.
