Glassnode: 4M Bitcoin Bought Above $85K May Impede Price Recovery
Bitcoin's price recovery could face resistance from holders who acquired 4 million BTC above $85,000.
Bitcoin's price recovery could face resistance from holders who acquired 4 million BTC above $85,000. Bitcoin (BTC) is trading at ₹76,90,590 ($80,702.00), down 0.6% since this brief published. This is an original Token Times brief synthesising 2 outlets (Decrypt, Cointelegraph), with their figures cross-checked, plus live market data, as of Thu, 29 Oct 2026 18:00:01 UTC.
This analysis highlights a potential psychological and technical barrier for Bitcoin's price recovery, as a significant volume of BTC was acquired at higher price points, which could influence investor behavior and market dynamics.
- 4 million BTC were acquired above $85,000, creating a potential resistance zone.
- Bitcoin is currently trading near the average price paid by U.S. ETF holders.
- The Fed's decision to hold rates steady may influence BTC's short-term trajectory.
Decrypt and Cointelegraph both report Glassnode's analysis that 4 million Bitcoin were acquired above $85,000, identifying this as a potential resistance zone for price recovery. While both outlets cite the $85,000 figure, Decrypt emphasizes the proximity of Bitcoin's current price to the average price paid by U.S. ETF holders, whereas Cointelegraph focuses on the cost-basis zone for long-term holders.
Glassnode's analysis, as reported by Decrypt and Cointelegraph, indicates that 4 million 
Bitcoin were acquired above $85,000, which could pose a significant resistance level for the cryptocurrency's price recovery. This figure represents a substantial volume of BTC that was purchased at higher price points, potentially influencing investor behavior and market dynamics.
The current trading price of Bitcoin is close to the average price paid by U.S. spot ETF holders, according to Decrypt. This proximity suggests that ETF-related buying activity could play a role in determining the near-term price trajectory of Bitcoin.
The analysis comes a day after the Federal Reserve decided to hold interest rates steady, a move that has implications for risk assets like cryptocurrencies. The decision could provide some stability to the market, but the presence of a large volume of BTC acquired at higher prices may still act as a barrier to significant price increases.
Glassnode's findings highlight the psychological and technical significance of the $85,000 level. The cost-basis zone for long-term holders, as noted by Cointelegraph, suggests that these holders may be more inclined to sell if the price approaches their acquisition levels, which could dampen upward momentum.
In the broader market context, the total crypto market cap stands at $2.79 trillion, with Bitcoin's market cap at $1.63 trillion. Bitcoin's price has increased by 0.88% in the last 24 hours, but it remains down by 0.60% over the past week. The Fear & Greed Index is at 51, indicating a neutral sentiment.
Since this brief published about 1 hour ago, Bitcoin (BTC) has moved from ₹77,33,663.76$81,154.00 to ₹76,90,589.90$80,702.00 — -0.56%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin reach $85,000 in October?
Crowd-implied probability on Polymarket, ₹10.73M 24h volume, resolves Nov 1 — snapshotted when this brief published (Oct 29 17:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by Token Times and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₹8.47M (about $80,702.00), down 0.1% over 24 hours. The rupee itself trades about 10.2% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 2 outlets reporting this story.
Token Times extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
Figures and sectors in this story, checked live against on-chain aggregators · October 29, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Glassnode: 4M Bitcoin Bought Above $85K May Impede Price Rec — questions & answers
What is the significance of the $85,000 level for Bitcoin?
The $85,000 level represents the lower boundary of a cost-basis zone for long-term holders, which could act as a resistance level for price recovery.
How does the Fed's decision affect Bitcoin?
The Fed's decision to hold rates steady may provide some stability to the market, but the presence of a large volume of BTC acquired at higher prices could still impede price increases.
What is the current trading price of Bitcoin?
Bitcoin is currently trading at $81,154, up 0.88% in the last 24 hours.
How much is 1 Bitcoin worth in rupee today?
About ₹8.47M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $80,702.00. The rupee price moves with both BTC's US-dollar price and the USDT/INR rate; use our Bitcoin in rupee page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 0.56% since this brief first published — trading at ₹76,90,590 ($80,702.00) now versus ₹77,33,664 ($81,154.00) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Decrypt, Cointelegraph, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.