Glassnode: Bitcoin Struggles at $85K Resistance

Glassnode highlights Bitcoin trading quietly while underlying flows shift. Long-term holders hold coins acquired above $85K, with each dip registering smaller realized losses. Stocks now outtrade Bitcoin perps on Hyperliquid and altcoin breadth continues to fade.

Price action shows BTC at $80666.28 on the 4h chart inside a bearish structure defined by EMA50 at $81083.43 and EMA200 at $81722.6. Momentum sits neutral with RSI(14) at 48.92 while MACD registers a bullish golden cross at -34.93. Price tests the upper Bollinger Band resistance at $81391.55 yet remains capped by the $85K level that has rejected closes on all but five days since January.

With price testing upper Bollinger resistance at $81391.55 while the broader trend stays bearish, a healthy retracement toward EMA50 support at $81083.43 appears probable before any sustained attempt higher.