Glassnode: 4M BTC bought between $85K and $118K caps Bitcoin's upside
- —About 4M BTC held long-term were bought between $85K and $118K
- —Bitcoin has closed above $85K only five days this year
- —Short-term holders' largest cost basis cluster sits near $77K
- —Wallets holding 100–1,000 BTC remain the steadiest October buyers
Why it matters: A run of daily closes above $85K would signal a bullish reversal, while a breakdown risks a drop toward the $75.8K short-term holder cost basis.
Source: Cryptoast