Bitcoin Rally Falters Amid Long-Term Holder Selling Pressure

The Bitcoin price rally is cooling down due to the absence of spot buyers and selling pressure from long-term holders.

A recent Glassnode report shows that despite weekly ETF net inflows reaching $2.7 billion, secondary-market activity has declined, and long-term holders are exerting heavy selling pressure in the $84,000, $85,000 range.

This selling pressure is a key resistance level for Bitcoin's price momentum, which is largely driven by prior inertia after reaching $87,000 and retreating to around $84,000.

The Relative Strength Index rose 14.8% to 70.4, breaching its upper threshold, signaling that the upward move is being sustained by earlier momentum.