MarketPR
The $81,000-$86,000 band is in focus for $BTC.
Glassnode, the on-chain analytics firm, calls it the wall between current prices and Bitcoin's January high, pointing to a large cluster of long-term holders near their cost basis across that corridor as one of the factors giving the level its weight.
When enough holders are roughly flat on their positions, a price range stops being a chart feature and starts being a queue. The overhead supply Long-term holders near breakeven create a specific kind of resistance.
These are participants who sat through drawdowns and are now approaching the prices at which they originally bought.
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