Glassnode: 4M Bitcoin Bought Above $85K May Limit a Rebound
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Glassnode flagged 4 million Bitcoin purchased above $85,000 as a potential barrier to recovery, with BTC near U.S. spot ETF holders’ average entry price.
Bitcoin traded near the average purchase price of U.S. spot Bitcoin ETF investors, according to a report from Decrypt.
Glassnode highlighted roughly 4 million BTC acquired at prices above $85,000, warning that those holdings could create resistance to a price recovery.
The trading snapshot came one day after the Federal Reserve left interest rates unchanged. The report did not establish a direct link between that decision and Bitcoin’s price.
Source: Decrypt
