Odaily Planet Daily reports that on-chain data analytics firm Glassnode states that approximately 1.05 million BTC are held by long-term holders (LTHs), whose cost basis is concentrated between $83,000 and $86,000—marking the first significant cost concentration zone above the current spot price of around $79,000.
Glassnode notes that these long-term holders have held through all prior market corrections and have not sold. Therefore, the $83,000 to $86,000 range will be a critical level to watch, as it hinges on whether these long-term holders choose to take profits or continue holding as prices rebound toward their cost basis.
If significant selling pressure emerges in this region, it may limit Bitcoin's short-term rebound potential; if long-term holders continue to demonstrate patience, it could signal stronger upward momentum.