Bitcoin Rally Hits Supply Wall at $81K-$86K

The Bitcoin rally faces a critical supply wall between $81K and $86K according to on-chain analytics firm Glassnode.

This price band is where long-term holders break even, creating a cluster of sell pressure from these investors. Additionally, self-custody wallets concentrate near $80,800, and options dealers shift their hedging direction around $82,300.

The supply wall is also reinforced by residual short liquidation levels between $82,000 and $86,000. Glassnode notes that this convergence of factors makes it the main obstacle to Bitcoin's continued recovery.