Bitcoin’s $85,000 Wall Puts Four Million BTC Between Recovery and Resistance

By Isaac • October 29, 2026 7:13 pm •

Bitcoin is approaching a price zone packed with investors who have been waiting months to get back to even. Roughly 4 million BTC held by long-term owners was bought between $85,000 and $118,000, creating a potential wall of supply just above the current market.

Decrypt summarized Glassnode’s latest market work, which puts Bitcoin near the average entry price of U.S. spot ETF holders while a much larger block of older coins remains underwater. That combination makes the next few thousand dollars unusually important.

Glassnode said the $84,000-to-$85,000 band has rejected Bitcoin four times this year. The asset has closed above $85,000 on only five days since January and never held there for more than three consecutive