Glassnode: Bitcoin supply concentrated above $80,000, creating persistent resistance for the price

glassnode concludes from the latest Bitcoin Short-Term Holder Cost Basis Distribution (CBD) heatmap that the consolidation of Bitcoin prices in the range of $80,000 to $95,000 is due to concentrated supply above, creating resistance for the cost basis of recent buyers.

The heatmap shows that the supply above this range has hindered multiple attempts to rebound, resulting in price stagnation, despite the continued increase in buying interest after pullbacks. If demand continues to accumulate above $80,000, it may trigger a breakout.