In its The Week Onchain newsletter, Glassnode identified a new resistance zone for Bitcoin between $84,000 and $85,000. On November 22, 2025, approximately 4.3% of the total BTC supply, or 864,520 coins, moved onchain at those price levels, largely through transfers between wallets belonging to a single holder. This area has long served as support but has also slowed rebounds on several occasions, notably in May, September and October 2025, when the price reached $87,400. In addition, around four million BTC held by long-term investors were acquired between $85,000 and $118,000, creating a selling risk if the price returns to $85,000. The long-term holder spent output profit ratio currently stands at 0.99, indicating that this supply is moving onchain at an aggregate loss.
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